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M&C Saatchi profit up 10 percent on new accounts
March 18, 2013 / 7:56 AM / 5 years ago

M&C Saatchi profit up 10 percent on new accounts

(Reuters) - Advertising agency M&C Saatchi Plc (SAA.L) said full-year profit rose 10 percent, boosted by new accounts, including Ballantine’s whisky, LG Electronics Inc (066570.KS), Peroni beer and Virgin Holidays.

London-based M&C Saatchi, which opened branches in Stockholm, Singapore and Abu Dhabi in 2012, said headline pretax profit rose to 17.2 million pounds ($26 million) from 15.6 million pounds a year earlier.

Revenue increased 11 percent to 169.5 million pounds and comparable sales from the UK — the company’s largest market —rose 13 percent to 75.4 million pounds, driven by strong sales in its mobile services and customer relationship management businesses.

    M&C Saatchi was founded in 1995 by Charles and Maurice Saatchi after they were ousted from the board of Saatchi & Saatchi. The company’s clients include Google Inc (GOOG.O) and microblogging website Twitter Inc.

    M&C Saatchi’s shares, which have gained 47 percent over the past year, closed at 217 pence on the London Stock Exchange on Friday.

    ($1 = 0.6609 British pounds)

    Reporting By Richa Naidu in Bangalore

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