M&C Saatchi Full-Year Net Profit Rises 25% on Increased Sales
M&C Saatchi Plc (SAA), the U.K. advertising agency formed by brothers Maurice and Charles Saatchi in 1995, said full-year profit rose 25 percent on increased sales.
Net income climbed to 7.76 million pounds ($12.6 million) from 6.22 million pounds a year earlier, the London-based company said today in a statement distributed by the Regulatory News Service. Revenue rose 21.3 percent to 125.1 million pounds.
“M&C Saatchi made excellent progress in 2010, delivering strong growth in revenues and profitability,” Chief Executive Officer David Kershaw said in the statement. “That success leaves us well placed to make further progress. While we remain cautious about the macro environment, the board is confident that we will continue to make progress in 2011.”
M&C Saatchi profits have been boosted as the U.K., its main market, emerges from its worst recession since World War II. The company’s revenue has grown in Asia and Australia and in January it said it will promote Britain’s 2012 Olympic Games and the U.K. royal wedding in May.
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