Tokyo-headquartered Dentsu, the world’s fifth largest agency group, reported a continued decline in revenues for May – the tenth month in a row that income had fallen.

Income fell by 7.6% year-on-year to ¥13.29 billion ($107.12m; €113.04m; £73.30m), triggered Dentsu says, by a steep fall in advertising from financial firms and information communications companies. Newspaper ad revenues dived 25.2% to ¥13.29bn, while TV ad revenues were down by 2.8% to ¥59.96bn.

Local sales will continue to fall for the remainder of this year, predicts the agency, which forecasts a group net profit for the year to March 2003 of ¥13.2bn on sales of ¥1,740bn.

Data sourced from: BrandRepublic (UK); additional content by WARC staff