Brexit lifts M&C Saatchi due to Remain campaign adverts

M&C Saatchi’s high-profile ads might have failed to dissuade Britons from voting for Brexit but the group still profited from the campaign as revenues surged by a quarter in 2016.

Part of it was a post-Brexit currency benefit from a plunging pound currency benefits, but even stripping those out, M&C Saatchi’s clients spent 19% more, or £213.1 million, in 2016.

As well as working on the Remain ads (pictured above), its new clients included Virgin Red, the Home Office, energy giant E.On, the Civil Aviation Authority and the Department of Work and Pensions. Chief executive David Kershaw described his firm’s Brexit work as “frustrating” as “there were an awful lot of good ideas which would have changed the tone of the campaign but which never saw the light of day”.

But he said 2016 was “an outstanding year”, with “positive momentum across our global network and business channels”.

The firm saw pre-tax profits halve to £6.8 million due to restructuring costs. But despite that, the final dividend is raised 15% for a full-year payout of 8.29p.