Young & Rubicam, New York, saw net income soar to $19.7 million in the first quarter, up 61.5% over the same period a year ago. Revenue was up 10.3% to $383.9 million. Advertising-related revenue rose 7.8% and non-ad-related revenue 12.6%. Also Y&R's board has approved the company's first-ever quarterly dividend of $0.025 per share. Among factors contributing to the strong quarter, Y&R said it established significant new associations with Barilla Group and Jim Beam Brands Co. and expanded existing relationships with Campbell Soup Co., Glaxo Wellcome and Sony Corp.
Copyright April 1999, Crain Communications Inc.