True North profits rise 18.6%

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True North Communications, Chicago, reported net income hit $21 million in the second quarter, up 18.6% from a year ago. Revenue rose 11% to $355.7 million. Net new business in the quarter for the company that includes Foote, Cone & Belding and Bozell Worldwide was about $170 million in equivalent annualized billings, more than double the first-quarter total of $80 million. First-half results: net income up 32.4% to $28.2 million, revenue up 9% to $659.1 million.

Copyright August 1999, Crain Communications Inc.

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