New business up for Saatchi & Saatchi

Marketing and design group Saatchi & Saatchi has gained substantial new business and accelerated revenue growth, despite trading as an independent entity since its demerger from Cordiant in December 1997.

According to its preliminary results for the year to 31 December 1998, the group saw profits before tax increase by over 30 per cent, to 30.7m.

Margins, including joint venture income, have increased to 9.3 per cent from 8.8 per cent. Ongoing revenue for the year stands at 363m.

The consultancy’s design division held its head up within the group: “Saatchi & Saatchi Design performed well, and was driven by strategic identity projects,” says a spokeswoman. However, she declined to reveal specific figures for each division.