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NEW YORK Amid the worst industry conditions in recent memory, MDC Partners CEO Miles Nadal is forecasting increases in profits and revenue for 2009.
Nadal said MDC expects profits to grow 3-6 percent to $63-65 million on a 1-3 percent hike in revenue to $590-605 million.
“I think we can do this even if revenue is less than we expect,” Nadal told investors late Tuesday during MDC’s earnings call. “We’re comfortable with the trends of growth. This is more modest than anything we’ve forecasted before.”
In light of the global economic crisis, most multinational ad agency holding companies — currently reporting their Q4 and full-year ’08 numbers — have declined to give investors guidance about 2009, let alone forecast growth.
MDC,
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