Saatchi Says Profit Not as Expected: Saatchi...
From Times Staff and Wire Service Reports
Saatchi Says Profit Not as Expected: Saatchi & Saatchi Co. said its 1990 profit was “unlikely to achieve market expectations,” and disclosed that an American investment company has increased its stake in the troubled British advertising agency. Saatchi, the world’s largest advertising holding company, said Southeastern Asset Management Inc., Memphis, Tenn., has bought another 2% of the company’s stock, raising its stake in Saatchi to 13.2%.
