Following a major restructure last year, Bates Advertising Asia yesterday reported first quarter profits up by 21% to $13.2 million.

Much of the increase in the first three months of 2000 came from new business which contributed $25 million in billings during the period. New clients include internet operators such as Singapore’s, in Hong Kong, and in China.

Jeffrey Yu, regional president of the Cordiant-owned, US-based, advertising group, attributed the buoyant results to a "simple, streamlined management structure to enable us to work efficiently."

News source: Wall Street Journal