M&C Saatchi’s Australasian and Asian operating profits slump 17% due to ‘currency headwinds’

M&C Saatchi’s Asian and Australasian operations saw operating profits fall by 17% in 2015 with the company blaming “strong currency headwinds” including the weak Australian dollar for the result.

While like-for-like revenues were up 5% for the region the creative agency posted revenues of £42.3m ($80.5m) compared with £44.17m ($85.04m) the previous year, with headline profit before tax also down to £4.27m from £5.01m in 2014.

Overall, the global M&C Saatchi group managed to lift revenues to £178.9m ($340m) from $169m the year before, a like-for-like rise of 5.6%.