The Abbott Mead Vickers group has capped a bumper 1996 by
announcing record profits, turnover and earnings per share for the
Results announced at the end of last week show pre-tax profits up by a
massive 39 per cent to pounds 14.5 million, while turnover has jumped by
25 per cent to pounds 358.4 million.
The figures also highlight the success of AMV’s development into an
all-round communications group, with subsidiary companies separate from
the main agency contributing more than half the group’s total operating
profit for the first time.
Peter Mead, the group’s chairman, said last year’s momentum was being
carried through to 1997, with all the group’s companies starting the
year strongly. ’Without being complacent, I am confident that by
building referral business, developing our existing interests in the
fastest growing areas of persuasive communications and adding to the
range of services we offer to our clients, we can continue to show good
progress for the rest of the current year and beyond,’ he said.
The latest figures come on the back of a record new-business year for
the group, which boosted its billings by pounds 145 million and
contributed to Abbott Mead Vickers BBDO being named as Campaign’s Agency
of the Year for a second successive year.
The group board has recommended a final dividend of 7.75p per share,
making a total of 11p for the full year and representing a 25 per cent
increase on 1995.
Meanwhile, the group has pledged to continue its strategy of broadening
its services via acquisition. Its critical mass grew last year when it
bought the corporate communications agency, Fishburn Hedges, and the
media independent, Pattison Horswell Durden.