The loss was on revenues of $1.8bn (£1.3bn) last year. The loss includes various charges incurred during the merger of the Leo Group and the MacManus Group in January 2000 to form B|Com3. These include a non-recurring charge of $71.9m (£50.8m) created by a stock redemption offer and a $64.9m (£45.8m) goodwill amortisation charge. Both charges relate to the merger.
In 1999, the Leo Group reported a profit of $28.5m (£20.1m) on revenues of $934.2m (£659.5m).
There is still much speculation that the group will not float but instead will be taken over by one of its larger rivals as the consolidation in the advertising industry continues.
B|Com3 comprises the Leo Burnett and D'Arcy advertising networks and media buying network Starcom MediaVest.