Cordiant reports profit growth

Cordiant Communications, the acquisitive UK-based worldwide marketing communications group, is in a better position to grow its design and branding business and build a global design brand, following its latest interim results. These report pre-tax profits up by almost 70 per cent from £11.1m to £17.8m.

According to chief executive Michael Bungey, Cordiant now intends to strengthen its position as a major owner of design and branding groups.

The company has acquired eight design groups this year, which include Fitch parent Lighthouse Global Network and PSD Associates.

Plans under consideration include consolidating existing businesses within Cordiant with the recent acquisitions to create a global design facility, most likely under the Fitch brand name.

“We have not made any final decisions on building a global design brand, but are currently assessing Fitch’s operations worldwide to see what direction will work best,” says Bungey.