Cordiant back on track after founders' departure

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LONDON -- Cordiant -- the holding company for Bates Worldwide, Saatchi & Saatchi Advertising Worldwide and Zenith Media Worldwide -- has reported a 1996 pre-tax profit of $66.5m, compared to a $36m loss in 1995. The company also announced its first dividend payment for ordinary shareholders in seven years. Revenues in 1996 were $1.2bn, a 2.7% increase from 1995, excluding the impact of exchange rate movements and disposals.

Copyright March 1997, Crain Communications Inc.

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