Saatchi & Saatchi Chief Sets 25% EPS Growth Target For 1999

Bob Seelert, chief executive of global ad agency Saatchi & Saatchi, today set the company a target of achieving a 25% earnings per share growth (EPS) during 1999. The agency also posted a 30.6% rise in pre tax profits and EPS up by 28.8% to 8.5p for the year ended 31 December 1998.

So far this year Saatchi & Saatchi has won £120 million worth of new business from Procter & Gamble and Hewlett-Packard amongst others. During 1998 the company took over £300 million worth of new billings. S&S also owns a 50% stake in global media research group, Zenith Media. Revenues at Zenith grew by almost 9% during 1998.

Commenting on the results, Seelert said: “These results prove the potential of Saatchi & Saatchi: record new business sustaining significant revenue and further margin improvement. We have grown pre-tax profits by over 30% and EPS by 29%. Saatchi & Saatchi is a focused business with a single objective: to produce creative ideas that transform our clients’ businesses, brands and reputations. The outlook for the company is one of further progress.”

Saatchi & Saatchi: 0171 436 4000