DRNO - Daily Research News
News Article no. 21607
Published October 12 2015




Bid Rumours as WPP Ups Stake in STW

WPP has increased its holding in struggling Australian group STW Communications, owner of a number of data and MR agencies.

STW CEO Mike ConnaghanAccording to www.mumbrella.com.au , WPP investment vehicle Cavendish Square Holdings has added 10m shares, taking its stake in the company to 23.65%, as rumours of a WPP takeover bid continue. The two firms are joint owners of Mindshare.

It's four months since CEO Mike Connaghan announced a 'bruising' restructure including the merger of a number of businesses to reduce the Group from 80 to around 50 subsidiaries. The move followed a troubled 2014 and a slump in share price. Two months later, STW reported 'disappointing' results, with organic revenue down 4.2% and underlying net profit after tax sliding 22.5% to $15.1m.

STW bought a majority stake in Colmar Brunton Australia in late 2013, adding to a portfolio already including the Australian arm of UK-based behavioural insights firm Beyond Analysis, online research consultancy AMR, brand insight firm Added Value, panel management specialist ORU, and data collection agency Touchpoint.

Web site: www.stwgroup.com.au .


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