NOVEMBER 14, 2001
Octagon parent makes big loss
THE Interpublic Group of Companies, which owns Octagon Motorsport, has just announced a $477.5m loss for the third-quarter. The company blames the loss on reduced advertising revenues and the cost of restructuring after an aggressive acquisition policy in the last year.
The company's revenues fell to $1.6bn compared to last year's $1.7bn. the company remains confident that it will be profitable again soon now that restructuring is over but that there is still some uncertainty because of the effects on the economy of the September 11 attacks and the ensuing war.
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