M&C Saatchi bullish on expansion despite recession

Global advertising network M&C Saatchi says it will continue its global expansion plans this year despite the recession after posting a 19% rise in revenues to £104m in its 2008 results.

The group, which includes the advertising agency M&C Saatchi and Walker Media, posted an 11% rise in like for like revenue growth in its results for the 12 months to 31st December today (March 26).

Chief executive David Kershaw (pictured) says the firm remains cautiously ambitious.

“The on-going economic uncertainty and limited visibility mean we remain cautious. Against that backdrop we will keep a tight focus on controlling costs.

[However] we continue to believe in our underlying business model and have a strong balance sheet so will, therefore, invest more in our organic growth strategy,” he adds.

Kershaw says the group will look for “further expansion opportunities” to help “service global accounts” on top of previously announced “openings” in Switzerland and Brazil.

M&C Saatchi clients include COI Communications, GlaxoSmithKline and RBS Group. The agency’s European chairman Moray MacLennan was recently promoted to the newly created position of chief executive of M&C Saatchi worldwide advertising network.

Matthew Freud, founder of PR company Freud Communications, recently bought a stake in M&C Saatchi, which was set up as in independent in 1995 by Maurice and Charles Saatchi. The original Saatchi & Saatchi is now owned by Publicis.