M&C Saatchi-owned Clear Sees 2012 Profits Slide

M&C Saatchi-owned brand research specialist Clear has reported a 'very tough year', with revenues slowing as nine of their top ten clients cut spending by 50%, resulting in a headline operating profit drop from £2m to £0.3m.

Clear, which was acquired by M&C Saatchi in 2007, helps clients with brand strategy, positioning and innovation through market research and consultancy. The firm employs more than 100 people from its offices in New York, London, Amsterdam, Hong Kong, Singapore and Sydney.

As a result of the decline, Clear's New York and Asian operations have been 'significantly downsized', while cost cutting has taken place across the group and yielded a 31% cost saving. However, in a statement M&C Saatchi said that following several large corporate client wins it expects Clear's 2013 first quarter profitability to be 'much improved'.

Web site: www.clear-ideas.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.