Profits at the Irish division of advertising and public relations group Ogilvy & Mather fell by 6.5 per cent in 2014, a year in which revenues declined 20 per cent, newly filed accounts show.
Ogilvy & Mather Group, which includes Wilson Hartnell Public Relations and advertising agency Young & Rubicam among its subsidiaries, made a profit of €943,568 for the 12 months to the end of December 2014 in Ireland, down from €1.44 million a year earlier. It recorded revenues of €17.4 million as against almost €21.8 million in 2013.
Operating profits from continuing operations fell from €1.71 million to €993,671 over the year.
In a note to shareholders, directors admitted it had faced challenges in maintaining revenues during 2013.
The group said that, going into a more positive economic climate, it “was primed to further drive brand, digital and media solutions for its clients”.
Ogilvy & Mather employed 105 people in total in 2014. It said staff-related costs, including wages and salaries, fell from €7.49 million to €6.89 million over the year under review. Directors’ remuneration declined from €1.04 million to €970,353.
Recent advertising work by Ogilvy & Mather Dublin includes campaigns for Ulster Bank, Smithwicks, Lucozade, TV3, Bord na Móna and Penneys.
