Saatchi & Saatchi has announced its annual financial results for the year ended 31 December 1997 and reports that pro forma profit before interest, tax and exceptionals is up by 39.1% to £30.6 million. Revenue was only slightly up, from £369 million in 1996 to £375 million this time. The company also reports an earnings per share increase from 4.1p to 6.6p.
In April 1997 Saatchi & Saatchi announced that it was to demerge from Cordiant plc and list itself on the London and New York stock exchanges (subscribers see Newsline). Commenting on this, chief executive Bob Seelert, says: “Independence suits us. We’re highly charged. New business, margins and profits are all up and the network has a fresh vibrancy about it. I think that the opportunities for this company are exceptional.”
Saatchi & Saatchi: 0171 436 4000
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