Dentsu, the globe’s fifth largest advertising group, revealed on Tuesday a massive 34% fall in annual profit. Group net profit fell 33.6% to ¥27.46 billion ($0.2143bn; €0.2373bn; £0.1479) while sales sagged 1.4% to ¥1.79 trillion.

The numbers, which tally with analysts predictions, fall well short of Dentsu’s own estimate of October last year, when it forecast group annual net profit at ¥30.46bn.

The group remains bearish about sales prospects for the next twelve months and predicts group net profit of ¥13.2bn on sales of ¥1.74 trillion for the year ending March 2003. The prognosis, given Dentsu’s previous clairvoyant lapse, may not impress investors and analysts.

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