The company founded by the advertising world’s most famous pairing, Saatchi & Saatchi, was always set to do well. Its latest full-year results are expected to be no exception when they are published today. Brothers Maurice and Charles Saatchi, who established the famous agency in the 1970s, left after a row with institutional shareholders in the US. The pair’s departure in dramatic circumstances in 1995 saw them go on to set up M&C Saatchi the same year. One of the reasons cited for their move was reportedly Maurice Saatchi’s experience of finance directors, although one FD, Charlie Scott, did go on to become chief executive. Now devoid of the brothers’ talents, the original agency that carries their name has continued to enjoy success and chief financial officer Bill Cochrane, who has been at Saatchi’s since 1982, is certain to be in the spotlight when the group’s results are announced. Having trained at Arthur Andersen from 1975, Cochrane was CFO at Saatchi and Saatchi Advertising, Saatchi’s North American operation, and its worldwide group, before heading up the business in its current form since 1999. The agency has been billed as the best performing advertising company over 12 months and is now expected to reveal pre-tax profits of £45.7m in its full-year results due to be published today. Saatchi’s activities comprise flagship advertising network Saatchi & Saatchi Worldwide and below-the-line public relations business Rowland Worldwide, The Facilities Group and Zenith Media Worldwide – a media buying and planning group. As advertising agencies are reliant on client income to survive, movement in clients has been watched closely. Since the interim results were published, Saatchi & Saatchi has lost Delta, Glaxo’s Imitrex, and Volvo, but has won contracts promoting Glaxo’s Relenza drug, Sony, Proctor & Gamble and Hewlett-Packard. Despite the changes, City observers predict Saatchi & Saatchi will go from strength to strength in an increasingly competitive business.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel