Advertising agency M&C Saatchi has rebounded from the loss of the £60m British Airways account by posting improved financial results for 2006.
Its pre-tax profits rose 4.2% to £7.8m, on the back of a clutch of new contracts.
New clients included insurance group Direct Line and the Kingsmill and Lucozade advertising accounts. Its US arm won the account for Petco, the online supplier of pet products.
"The business gained momentum throughout 2006, and we grew our revenues and profits despite the departure of the BA account," said David Kershaw, chief executive.
The group, which operates in 12 countries, had warned investors in October 2005 that losing the key BA account - which contributed 7% of its revenues in 2004 - would harm its performance in 2006.
Mr Kershaw said that current predictions for 2007 were in line with expectations, but warned that trading conditions in the UK remain challenging.
"Clients continue to seek increased service levels at lower fees and a re-pitch is becoming an opportunity to seek fresh ideas and lower fees," said the company.
M&C Saatchi is raising its full-year dividend to shareholders by 25% to 3.2p a share. Its share price was up 3.25p at 164.75p, a rise of 2%.