The Interpublic Group of Companies, Octagon's parent comany, has blamed the soft advertising market for a falling $477.5million (B
The company also cited the loss this year on the high cost of restructuring after an aggressive acquisition policy in the last year.
Interpublic’s revenues fell to $1.6bn (B1.8bn) compared to last year's $1.7bn (B1.9bn).
But the company tried to reassure investors by saying it 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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