Saatchi & Saatchi, London, reported 1999 pre-tax profit climbed 4.3% to $57.3 million on 5.4% higher revenue of $633.1 million. Net new business totaled $735 million in annualized billings. North America posted the strongest growth with operating profit up 29.1% to $41.7 million; operating profit in Europe, however, fell 21.4%. Asia-Pacific saw a small profit of $157,000, a turnaround from a 1998 loss of $4.2 million. Saatchi's online business increased by 150% last year, representing 2.5% of total revenue.
Copyright March 2000, Crain Communications Inc.