For a while now, we've been talking about how 2021 should be a great year for the sector. We've sensed a lot of pent up demand and many brands simply have to get back to the businesses of winning customers. To see evidence that the bounce back is beginning is exciting, especially after a year that was extremely challenging for many agencies.
Moray Mclennan had a double whammy to deal with (accounting scandal and the pandemic), so news of strong performance at M&C Saatchi is great news for him, great news for the agency and great news for the sector too. Selbey Anderson had a record quarter in Q1 and Q2 appears to be hot on its heels in performance terms.
M&C Saatchi stock has jumped on an upgraded profit outlook, after the advertising agency pointed to an “encouraging” performance on the back of new clients and a recovery in global ad spend.