STW laments its ‘hangover’ as shareholders prepare to vote on WPP takeover

April 1, 2016 10:03

STW: reported a loss of $52.6m in 2015

In its final annual report before being taken over by WPP, STW group has lamented 2015 as the year it awoke with a hangover from its poor performance in 2014, reporting a loss of $52.6m.

Chairman Robert Mactier admitted that “the only positive to take away from 2014 was that in 2015 we undertook a strategic review that challenged the way we operate”.

On Monday, STW will hold an extraordinary general meeting where shareholders will vote on the merger with WPP as the global giant takes a 61.5% stake in the business.

Subscribe to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Simon Canning

Simon Canning was Mumbrella's marketing and advertising editor from 2015-2017. In a career spanning journalism and communications over more than 30 years Simon has become one of Australia’s most respected analysts and commentators on the advertising, marketing and media industries. A regular commentator on radio and TV, Simon has also worked in media in the US and UK .

Topics