Tempus denies sell-off
The finance director of Tempus Group, the fast-growing international media sales and communications business, has told Accountancy Age there is no truth in rumours the company is set to demerge its internet marketing division.
The division, Outrider, was set up four months ago to promote the websites of clients such as Nike and Nintendo through adverts and newsletters.
Over the last few years, the role of marketing has become increasingly important as companies seek to sell and promote their products from ever more sophisticated websites. In 1998, the division generated operating profits of #600,000 on sales of $10m (#6.2m) during 1998.
Tempus European finance director Ashley Martin denied mounting industry speculation that the media group was ready to sell the division. ‘We have no intention of selling it off,’ he said. ‘It’s a hot area and we set it up to get shareholder value.’
But Ashley refused to rule out the possibility of a future sale, but added that he was considering how best to integrate the fledgling ‘new media’ services into CIA Medianetwork, Tempus’ core business.
‘The whole area of new media is growing at an exponential rate, and we offer a full range of services which are relevant to the media and marketing,’ he said.