International media and marketing network Tempus Group yesterday reported a 28% hike in pre-tax profits for 2000 and a bullish performance forecast for the current year.
London-headquartered Tempus, whose flagship unit is the CIA chain of media planning/buying agencies, unveiled profits of £19.94 million, compared with £15.61m in 1999. Turnover increased by 45% to £2.07bn, with major first-time contributions from the group's branding and identity shop Brown KSDP, strategic consultancy Added Value and Outrider, its digital marketing subsidiary.
Tempus claimed its geographic mix – 97 offices in twenty-nine countries – provided a bulwark against a US-led slowdown in advertising growth. Just eleven per cent of its revenues accrue from the United States.
“While we are not immune to the effects of a slowdown in worldwide advertising growth,” said Tempus, “our European bias, increasing proportion of fee-based income and position as a value added, strategic adviser, places us well ahead of our peers and gives us confidence in the outlook for the year.”
News sources: Financial Times; CampaignLive (UK)