Grey posts record first quarter

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Grey Advertising reported a sharp improvement in its first-quarter results and record billings growth during the quarter over the same period in 1999. Net income grew to $5.2 million from $107,000, and the agency's gross billings grew 27% in 1999 to $1.93 billion, helped by more than $300 million in new assignments across its units.

Copyright May 2000, Crain Communications Inc.

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