M&C Saatchi posts 6% half-year pre-tax profit increase following wins with RBS, Boots, Adidas & Land Rover
Advertising group M&C Saatchi has reported a half-year pre-tax profit growth of six per cent, at £9.3m, as it continued its international growth strategy.
The agency, which saw UK revenue grow by eight per cent during the first six months of 2013, also saw a growth of 21 per cent across Europe, although revenue in Asia and Australasia fell by three per cent. It's Middle Eastern and African revenue was up by 54 per cent, while revenue also grew by nearly a quarter (24 per cent) in the Americas.
During that period, the company opened new offices in Abu Dhabi, New York and Stockholm.
David Kershaw, group CEO, praised the figures, stating that they came from the company's new business growth.
"Looking ahead, we are confident that we will continue to make progress in 2013 and beyond. The strategy continues to deliver," he added.
Billings during the first six months were £255,039m, with overall revenue at £87,138m and pre-tax profit grow to £4,200m.
New business included work with Adidas, Club Med, Land Rover, Unipart and HMG Cyber, while winning the digital accounts for Boots and Royal Bank of Scotland. The international corporate advertising account for chemical company BASF was also picked up in July, seeing it work alongside the German business to develop a campaign across North America, Brazil, Asia Pacific and Europe.
In Europe the company saw a five per cent decline in operating profit, despite the Stockholm team winning sic pitches with Carlsberg, Google, H&M, LG and Oxfam, although little new advertising business was recorded in Framce, and Spain also "struggled".
Last week, M&C Saatchi UK announced the appointment of Camilla Harrison as CEO.