Creston plans to focus on digital marketing and research after exiting traditional advertising with the sale of its agency DLKW.
“Eventually because of the way the market was moving I became very concerned that the above-the-line advertising industry was going to continue to be under pressure regardless of the economy,” Mr Elgie told the Financial Times.
DLKW was not performing “any worse” than other traditional agencies, he said.
The deal “puts us into a better shape for the future. We won’t have any legacy business.”
As a result of DLKW’s sale, Creston’s Health and Insight divisions, which command higher margins than traditional advertising, will increase from 46 per cent to 54 per cent of group profit.
