Tempus profits up 40%

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Tempus Group, the world's second-largest independent media specialist after Aegis' Carat, reported strong earnings and revenue for 1998. London-based Tempus, which is strong in Europe but is just dipping its toes in the U.S. and Asia, reported pre-tax profit increased 40% to nearly $21 million on 29% higher gross income of $114.6 million. The group profit is up because CIA and other operating units are gaining an increased share in higher margin markets. Also, they continue to focus on value-added services that offer higher margins than media buying and planning. Europe accounts for 95% of Tempus' billings, with the U.S. and Asia accounting for the remainder.

Copyright April 1999, Crain Communications Inc.

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