M&C Saatchi to restructure UK business after ringing another profit alarm
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(Reuters) - UK-based M&C Saatchi Plc on Wednesday warned of lower annual profit for the second time in less than three months, due to higher costs and weak performance in the fourth quarter, and the ad agency said it would restructure its UK business.The company, which initiated an internal accounting review of several of its UK subsidiaries in August, said an independent audit review has identified further adjustment to be made to its financials, totalling 11.6 million pounds.Shares were seen..