Further light has been thrown on the seemingly high price of £60 million claimed for the sale of Adam and Eve Group to Omnicom Group’s DDB network to create the renamed Adam & Eve/DDB London office last month (see Sold for £60m: would you Adam and Eve it?).
It is understood that Adam and Eve’s revenue and profits leapt by 71% and 122% respectively in 2011, helped by winning the Halifax account. As a result the agency earned a profit before tax and interest (EBIT) of around £3 million (see table).
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