Profits up after Saatchi flotation

Advertising agency M&C Saatchi was celebrating a successful first year on the stock market today after signing new contracts with Halfords and Royal Bank of Scotland.

The company, which floated last July, said a string of new business wins in the UK had given it a boost as it posted an 8.5% rise in pre-tax profits to £8.1m (€11.8m) in the year to December 31.