As the company announced its results for 2002, it confirmed that, in response to recent press speculation, it was lining up alongside WPP Group and Taylor Nelson Sofres to bid for the firm. United said it was currently "evaluating NFO".
United said pre-tax profits -- down from £95.9m in 2001 -- were hit by the advertising downturn in the US. Its US business saw profits fall from £47.7m to £20m, according to chief executive Lord Hollick.
Group turnover fell 14.9% to £793.4m from £932.5m, despite strong performances from its CMP Information, CMP Asia, United Advertising Publications and NOP Research divisions, which delivered a profit of £44.9m.
UAP, which publishes Exchange & Mart and Daltons Weekly, performed particularly well as every title it publishes recorded an increase in profits. The division's revenues were up 1.2% to £58.1m and profits rose by 35.1% to £12.7m.
However, the company's news distribution service PR Newswire was hit by the number of companies that were delisted on the US stock exchange. It said there was a 16% fall in the number of Nasdaq-listed companies at the end of the year. PR Newswire's turnover fell to £105.4m from £128m last time. The division's profits almost halved to £17.3m from £35.8m in 2001.
Lord Hollick said a number of cost-cutting measures over the past two years had helped the company make savings of as much as £180m, which had enabled it to continue investing in its products.
"Action to improve operating efficiencies throughout the group has reduced fixed costs by £180m, or over 25% against the 2000 base."
The company said it had also benefited from its 35% stake in UK terrestrial channel Five, which "made excellent progress with strong gains in advertising and audience share".
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