REG-M&C Saatchi PLC AGM Statement

Released : 11/06/2009 10:20
RNS Number : 7451T  
M&C Saatchi PLC  
11 June 2009  
Chairman's Statement   
2008 was our 14th year and appropriately enough we made a record £14m profit. 
Revenue was up, margins were up and earnings per share followed suit. Great 
credit is due to all our people for tremendous results in trying circumstances.  
This year promises to be more challenging. The degree of caution and pessimism  
is unparalleled  in my time in the industry.  
However, undaunted, we have opened 3 new offices this year: Brazil, the world's 
9th biggest ad market; Japan, where a highly regarded team joined up with us; 
and Switzerland, where many multinationals are based and the opportunities for 
regional accounts are reported to be favourable.  
So far, 2009 is in line with management expectations and although in the recent 
Report and Accounts, we said it was getting harder and harder to peer beyond the 
immediate future , the fog does now seem to be lifting. What we see may not 
always be to our liking, but at least it is clearing.  
Since we last met, we have promoted two members of the Executive Committee. 
Moray McLennan is now Chief Executive of our Global Advertising Network, and Tom 
Dery is its Chairman. We wish them well, and hope that under their direction, 
momentum can be increased further.   
Tim Duffy became the CEO of our UK agency group, a well-deserved promotion for a 
man in whom we have great confidence.  
Walker Media promoted Simon Davis to Managing Director, another well-earned move 
for one of the Company's rising stars.  
In summary, the position is not as bad as once feared but not as rosy as one 
would  hope for. We intend to pursue our established strategy and  take 
advantage of any opportunity  to expand into new geography, or into new 
categories in  countries where we already have a presence.   
We are constantly looking to find and back ambitious men and women with the 
vision and entrepreneurial drive to seek out profitable business streams in 
pastures old or new.   
M&C Saatchi plc  
Jeremy Sinclair, Chairman                             020 7543 4500  
David Kershaw, Chief Executive  
Numis Securities Ltd                                     020 7260 1000  
Lee Aston, NOMAD  
Charles Farquhar, Corporate Broking  
Tulchan Communications                              020 7353 4200  
Susanna Voyle  
Tom Ryner  
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