Grey profits drop 24%

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Grey Advertising, New York, said third-quarter net income fell almost 24% from a year ago, to $4.6 million. Income from commissions and fees climbed 9.9% to $262 million, as gross billings hit $1.75 billion. Nine-month results: net loss of $1.89 million vs. $19.4 million in net income a year ago, commission and fee income up 9.9% to $751 million.

Copyright November 1999, Crain Communications Inc.

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