M&C Saatchi’s London HQ has revealed that it expects a small profit for the first half of 2020, which it said was ahead of expectations as adland suffers from the pandemic downturn. The agency described the outlook as “encouraging and more favourable” than it had anticipated.
The agency said the performance was driven by continued growth in its world services division and “robust” new business wins included TikTok, BP, Bayer, and Tele2.
Earlier this month, the UK head office announced that its Australian operations – the second largest in the network – had been a major contributor to the agency’s balance sheet following big government wins that included M&C Saatchi Melbourne’s appointment to run all of the COVID-19 communications for the Victorian Government.
Overnight the agency said in a statement: “Given the uncertain global economic environment over the last few months, these initial results are encouraging and more favorable than management’s expectations.
“Although revenue declined in the first half … the better-than-expected second-quarter performance and the swift and decisive action taken in reducing costs has resulted in a relatively stable first half-year performance, stronger than was anticipated at the start of the pandemic.’
M&C bosses also announced that it has secured a £7 million ($A12.6 million) government loan in the UK, which it described as precautionary, adding that it does not expect to draw on it amid current conditions.
In further M&C Saatchi news, the agency has announced the launch of M&C Saatchi Open House, a new free eight-week virtual training programme open to absolutely anyone who wants to learn more about a career in advertising.
The goal of the programme is to remove barriers for people who want to break into the advertising or communications industry but have not had the support or access to do so.
M&C Saatchi Open House will offer a series of specially created, weekly virtual seminars, each hosted by a different M&C Saatchi expert, including CEO Camilla Kemp and Chief Creative Officer Ben Golik, sharing their knowledge on topics such as ‘How to interpret and write a creative brief’, ‘How to craft amazing ideas that transform brands’, ‘How to bring ideas to life across multiple channels’, ‘How to engage meaningfully with customers using data’ and ‘How to master the art of the pitch’.
Anyone interested in registering for M&C Saatchi Open House can visit openhouse.mcsaatchi.london.
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