M&C Saatchi’s Asia Pacific revenues drop 11.6% following loss of David Jones account
M&C Saatchi has posted an 11.6 per cent drop in revenue in Asia and Australasia, with the loss of the David Jones account to Whybin\TBWA cited as a major contributing factor.
The agency’s full-year results show regional revenues of $85.04m (£44.17m), down from $96.128 (£49.961m) at the end of 2013. Like-for-like revenues were down one per cent year-on-year for the region, whilst operating profit was up 10 per cent.
The Asia and Australasia operations, which includes offices in Sydney, Melbourne, New Delhi, Mumbai, Kuala Lumpur, Hong Kong, Beijing, Shanghai, Singapore and Tokyo, posted a headline profit before tax of $9.643m (£5.01m), up from $8.639m (£4.49m) at the end of 2013.
Bring back Tom and Tom –
An $11million drop in revenue – and a $1million rise in profit.
Now that’s my kind of agency!
Asia PAC down but M&C Saatchi Australia must have been well up winning IAG, Lexus, Cricket Australia, A2 etc.
The accountant has got it in one. But need to control for one off events.
M&C claim 400 people across all of their agencies in Sydney alone. They should be returning close to that much profit from Australia on it’s own