16 September 2012 - 11:03am | posted by | 0 comments

M&C Saatchi acquisition spree predicted

M&C Saatchi acquisition spree predictedM&C Saatchi acquisition spree predicted

Following recent client wins including Etihad Airways and Commonwealth Bank of Australia, which are expected to have helped grow half-year pre-tax profits by £1.1 million to £8.8 million, analysts have predicted that M&C Saatchi will continue its acquisition spree into the U.S as it seeks to speed up international expansion.

The forecasts came after M&C Saatchi appointed Jeff Brooks, former chief digital officer at rival company Euro RSCG, as its chief executive in America and hired Pierre ­Lipton, executive creative director at San Francisco-based branding agency AKQA to become M&C’s chief creative officer in New York.

In addition, the company has already won work from U.S clients such as Kellogg, Pfizer and Unilever.

Speaking to the Scotsman, analysts Paul Richards and Gareth Davies at Numis Securities said: “The group has a strong balance sheet – with net cash of £19m at the end of this year – and we see scope for bolt-on acquisitions to supplement organic growth,”

“In addition to building its global network clients, M&C continues to focus on developing high-growth businesses – notably mobile – in mature markets and scaling up in more attractive geographic markets.”

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