New York-headquartered Grey Global Group has posted a year-on-year increase of 11% to $5.1 million in third quarter net income.

Net billings and commission rose 19% to $302m, while gross was up by 15% to $2 billion. In the year to date, Grey achieved a net income of $16m against a cumulative nine months net loss of $2m during the same period in 1999.

YTD commissions and fees soared 19% to $897m, while gross billings increased by the same percentage to $6bn.

News source: Advertising Age - Daily Deadline