Sept 18 (Reuters) - British advertising group M&C
Saatchi posted a 26% rise in first-half profit on
Wednesday, and forecast its annual results in line with market
view, aided by improved advertising spend from clients,
cost-saving measures and asset sales.
Business from the existing client base remained strong with
about 75% of last year's clients choosing to spend in the first
half of the year, the company said, adding that it now has
high-profile clients such as McDonald's, Ford,
IKEA and Sony Pictures to its blue-chip roster.
In response to pressure from tech clients' marketing
cutbacks last year, M&C Saatchi, under new CEO Zaid Al-Qassab,
had been strategically divesting some businesses to enhance
margins and profitability.
The advertising group, with clients such as Amazon ( AMZN )
and Japan's Rakuten ( RKUNF ) posted 14.2 million pounds
($18.71 million) in like-for-like profit before tax for the
six-month period ended June 30, from 11.3 million pounds a year
earlier.
($1 = 0.7591 pounds)