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Cordiant reports loss

Published on .

Cordiant PLC, London-based parent of Saatchi & Saatchi Advertising and Bates Worldwide, reported a loss of $59 million for 1995, compared with a profit of $21 million a year earlier. Revenue declined 2% to $1.2 billion. Despite the loss, Chairman Charlie Scott called '95 a year of "substantial achievement ... after a tumultuous start," referring to the holding company's success in stemming client defections, strengthening management and reducing debt.

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