Cordiant posts loss

Cordiant, parent group of Siegel & Gale and Saatchi & Saatchi Design, has posted unaudited results for 1995 showing a pre-tax loss of 22.6m, down from a 32.4m profit in 1994.

However, the figures include exceptional operating costs of 20.3m and a 30.3m net loss on disposals.

Cordiant’s 1995 was dominated by management changes which culminated in Maurice Saatchi’s departure.

Trading profit was 48.6m, up from 1994’s 44.5m. Specific figures for the group’s design consultancies are not available.