LONDON (Brand Republic) 鈥 Soaring worldwide demand for advertising has boosted profits at media and marketing communications company Tempus Group, which has made two key internationals acquisitions.
Chairman Chris Ingram said profits for the group jumped 37% from £7.2m to £9.8m in the year ending June 30. He said, 鈥淎dvertising spend is forecasted to grow at 8-9% globally this year, with the US being particularly strong.鈥
Tempus, which owns the media-buying network CIA Medianetwork, has bought an 80% stake in Tokyo-based ICM, which provides market analysis to clients such as Coca-Cola, L鈥橭real, SmithKline Beecham and Nike.
In the US, it spent £6.4m on marketing and branding consultancy Fusion 5, with which it shares several clients.
Ingram said it was important to establish a toe-hold in the Far Eastern market, claiming economic conditions were ripe to boost profits as low inflation meant companies were forced to compete on brand awareness rather than price.
Overall group turnover rose 45% from £706m to £1bn in the last six months.
Ingram formed the company 25 years ago with three staff. It now has 2,300 staff in 30 countries.