2023 M&C Saatchi profits plummet 87% to £700,000 due to challenging market conditions, leading to cost-saving measures.

M&C Saatchi's profits plummeted 87% in 2023, falling to £700,000 before tax from £5.4m the previous year. The company attributed the drop to challenging market conditions, which also affected other advertising firms. M&C Saatchi implemented significant cost-saving measures, such as closing smaller offices in Asia and winding down UK operations. The firm reported that it's on track to meet expectations for the year, following a "material" profit improvement in the second half.

April 10, 2024
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