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Ad sector evades financial woes

Less financial confidence in wake of the Northern Rock fiasco is yet to hurt the UK’s advertising sector, it emerged yesterday.

One of the UK’s youngest yet fastest-growing ad agencies said that, so far, there wasn’t any sign budgets would take a downward spiral.

The reported verdict from David Kershaw, chief executive of M&C Saatchi, flies in the face of the traditional trend that sees retailers among the fist to cut their budgets.

“There have been no cuts in prospective retail spends for Christmas,” Mr Kershaw told The Daily Telegraph.

“Consumer spending is holding up and, while that’s the case, retailers will very reluctant to pull advertising spending.”

His comments came as M&C Saatchi posted a 64% rise in half-year profits to £3.3m pre-tax on revenues up 8% £37.3m.

The growth was reportedly down to good growth in the UK and the return to profit of its European and US businesses.

The company’s UK clients include DSG International, owner of Currys & PC World, while its majority-owned media buying division, Walker Media, plans campaigns for Marks and Spencer.

Sep 27, 2007
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