FOCUS - EUROPE: M&C Saatchi retains Lastminute business

<p>M&C Saatchi has held on to the Lastminute.com advertising account, </p><p>worth £5 million (US $7,320,000), after a pitch against </p><p>Wieden & Kennedy, Bartle Bogle Hegarty and BMPDDB. </p><p><BR><BR> </p><p>A new advertising campaign, beginning in the autumn, will be created by </p><p>M&C Saatchi with the Immediate Sales Agency, part of the M&C Saatchi </p><p>village. </p><p><BR><BR> </p><p>The work is expected to concentrate on broadening the perception of </p><p>Lastminute, which is viewed primarily as a travel site, and promote a </p><p>wider range of last-minute leisure bargains on offer. </p><p><BR><BR> </p><p>Mr Nick Hurrell, the joint chief executive of M&C Saatchi, said: "The </p><p>second stage of the campaign will be more consumer-centric, featuring </p><p>specific products and inspiring ideas for all occasions in people's </p><p>lives." </p><p><BR><BR> </p><p>Mr Carl Lyons, Lastminute's head of marketing, said: "We are absolutely </p><p>confident that M&C Saatchi's work will build the brand in line with our </p><p>ambitions. The integration of immediate sales into the core team will </p><p>provide a strong stream of new ideas." </p><p><BR><BR> </p><p>M&C Saatchi was originally appointed in July 1999 when Lastminute was a </p><p>much smaller operation. </p><p><BR><BR> </p><p>Following the company's flotation earlier this year, the share price has </p><p>been disappointing, in line with the rest of the new economy sector. </p><p><BR><BR> </p><p>Lastminute announced third-quarter losses of £9.27 million (US </p><p>$13.8494 million) earlier this month, but expects to reach </p><p>profitability 12 months ahead of schedule. </p><p><BR><BR> </p><p>The company recently expanded overseas and purchased the French travel </p><p>e-business Degriftour for £59 million (US $88.146 million). </p><p>Lastminute also has German and Swedish versions of the site and has </p><p>launched a dedicated Australian site in partnership with </p><p>Travel.com.au </p><p><BR><BR> </p><p>Media buying for Lastminute.com, which is handled by New PHD, was </p><p>unaffected by the review. </p><p><BR><BR> </p>