Marketing company Media Square has acquired Chick Smith Trott (CST), an advertising agency, from media group Cagney for £430,000.
Marketing company Media Square has acquired Chick Smith Trott (CST), an advertising agency, from media group Cagney for £430,000.
London-based CST generated sales of £2 million and pre-tax profits of £140,000 in 2009 and clients include Subaru, Douwe Egberts and Enjoy England. The agency will operate alongside Media Square’s existing UK advertising agency, The Gate.
In the six months to August 2009, Media Square reported a 25 per cent decrease in revenue to £24.3 million and an operating loss of £1.5 million.
Roger Parry, executive chairman of Media Square, said: ‘2009 has been a particularly challenging year for most marketing communications agencies [and] Media Square is no exception. We have seen the level of spending from our clients significantly reduced when compared to the same period in 2008.’
