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Grey Romania boss: We're further developing the business, but we'll also seek to consolidate profit

Autor: Adriana Rosoga

20.10.2010, 00:04 29

Dan Medrea, 37, who was brought from Ukraine one year ago tosupport the Romanian operations of Grey Worldwide, says agencies'profit has been under pressure this year as the costs of workforce,the main asset of this business, has not dropped at the same paceas the average cost of the advertising market.


"The market is where we had expected it to be, it fell by 10%from 2009. 2011 is a year when we hope the market stops falling,and the level should be flat from 2010. Next year there will bepressures generated by the dwindling purchasing power and theeconomy's not showing any signs of recovery. Agencies will pay moreattention to their own profits, which they have neglected,"specifies Medrea.
As for the business of Grey Worldwide Romania, which has beenoperating as Grey-G2 as of this year, after having won all itsaccounts in 2010 through its consumer activation unit G2, Medreasays "(...) We're further developing the business but we'll alsoseek to consolidate profit."
According to National Trade Registry Office, Grey Worldwide Romaniaregistered 8.5m-euro turnover in 2009 amid 480,000-euro profitagainst 2008, when it reached 18.1m euros with an 810,000-europrofit. The agency currently has 101 employees.
At this year's ADOR festival, Grey won the highest number of awardsamong advertising agencies.

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