Interim financial results released today for Saatchi & Saatchi, for the six month period to June, show that the UK division of the global advertising and marketing agency has seen a rise in operating profit of 6.3%, from £3.2 million for the same period last year, to £3.4 million this time. It was announced that the company had now set a target to grow margins to 12% by the end of 2001.
The company has seen ongoing revenues rise by 11.7% and by 10.4% at constant exchange rates, this was helped by new business wins from Procter & Gamble and Hewlett Packard. Earnings per share (EPS), increased by 31% to 4.2p , keeping well above the target set earlier this year (see Saatchi & Saatchi Chief Sets 25% EPS Growth Target For 1999).
Commenting on the results, chief executive Bob Seelert said: “Saatchi’s new business performance was excellent in the first half as the group continued to gain business from existing clients and we expect the revenue from these wins to flow through in the second half of this year and next year.”
Saatchi & Saatchi: 0171 436 4000
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