BLM Group profits fall as revenues drop 9%

LONDON - Independent media agency BLM Group has announced annual revenues of £5.3m, down 9% on last year's figure of £5.8m, for the year to May 31 2002.

Profits were down 7.4% from £485m to £449m.

Steve Booth, chief executive of BLM Group, said: "Overall, we're delighted with last year's results. Given the trading environment, to have had revenues fall just 9% is a triumph."

In September 2001, BLM took control of Quantum New Media, the group's online and interactive agency. It said Quantum is now trading profitably.

Booth said he expected billings and revenues to increase over the next year. "Based on our projections, we expect billings to rise by anything up to 60% -- we're having a good run of new-business wins right now."

The group's wins this year include Warner Vision, Suzuki, Bryant Homes, VSO and First Quench. However, it lost the Blockbuster video account to Walker Media.

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