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Operational highlights · Strong new business performance; UK with best levels of wins since 2004 · Three new offices opened (Cape Town, Johannesburg and Milan), in line with strategy of organic development in key markets · Acquisition of Inside Mobile, a specialist mobile marketing business · Launch of M&C Saatchi MENA in partnership with Quantum Group Developments in 2011 · Continued roll-out of higher margin growth businesses (Clear, Sport & Entertainment and Mobile) across M&C's international network · Investment in future growth: o Completion of global network with formation of 50/50 joint venture in Russia with EMCG, one of Russia's leading independent agencies o Acquisition of a 25% stake in both a start-up data business and Human Digital, a new social media insight business, in the UK · M&C Saatchi network now operating from 26 offices in 19 countries across six continents, allowing us to deliver a global offering to international clients - whilst retaining M&C Saatchi's unique entrepreneurial approach · Significant momentum from 2010 continuing into 2011
Group Highlights · Strong financial and operational results, with growing momentum throughout 2010 · Group revenues up 21% at £125.1m (2009: £103.4m); up 15.6% using constant currencies · Headline operating profit up 28.3% to £13.3m (2009: £10.4m) · Headline operating margin 10.6% (2009: 10.0%) · Statutory operating profit up 24.5% to £12.7m (2009: £10.2m) · Headline profit before tax up 29% to £13.3m (2009: £10.3m) o UK: revenues up 9% in competitive market o Europe: like-for-like revenues up 18%, despite challenging trading conditions o Asia and Australia: like-for-like revenues up 14% o Clear: operating profits up 53%, with good growth in the US and Asia · Cash at year-end of £31m (2009: £15m), of which £19m is advance 2011 client payments · Balance sheet further strengthened, with Group debt reduced to £2.3m (2009: £4.4m) · Headline basic earnings per share up 24% at 12.59p (2009: 10.15p) · Final dividend up 10.2% to 3.03p (2009: 2.75p); total dividend up 7.7% to 3.90p (2009: 3.62p)
http://www.investegate.co.uk/Article.aspx?id=201103240700105204D
Singer Capital Markets issued a "buy" rating for M&C Saatchi (SAA), the advertising agency, with a 134p target price. While the group has delivered a very strong set of results, the broker notes that the outlook is more mixed with a combination of slower than expected progress from the newer offices and general client caution offsetting some of the positive momentum of the business. With that said, Singer believes the stock is no longer very cheap and that the short term caution will probably limit near term share price progress. M&C shares moved ahead 5p to 144p.
Ahead of preliminary results later this week, Singer Capital Markets issued a "buy" rating for M&C Saatchi (SAA), the advertising agency, with a 134p target price. Given the strength of fourth quarter 2010 trading amongst peers and the generally positive outlook for the marketing services sector in 2011, the broker said it expects solid results and flags the possibility of upgrades. Singer added that, at this stage, it is forecasting a 19.6% growth in earnings per share in 2011. The shares edged back 0.5p to 138p.
I'm actually in profit after having sat on these for 2 months. Anyone have any views on whether SAA could be a takeover target?
HSBC stock advisory: strong buy! I guess I will hold on to my shares even though I am in profit by £40!! Lol
I think so! Having fallen since I bought them SAA have risen recently. My personal experience of the Recession is that things are improving. I have much more work compared with the previous 3 weeks (gross earnings £23!) I felt like having fallen off a cliff I was falling off another cliff but things are definitely looking up again. I'm just one voice among many millions but hopefully things are improving. And SAA will prosper!
As the only person apparently dealing in SAA today I feel somehow special! And baffled! Advertising will benefit when the upturn comes and WPP was recently tipped so why the lack of interest in SAA? I like the fact that they have offices worldwide and the dividend appears to be well-covered...
Oops my mistake too. Thought it was a bit weird. Anyway Maurice and Charles will want to overtake WPP in the SP - its a grudge thing. You see... the knives are out. They have a long way to go though.
I used to head hunt in this sector - Saatchi always under paid their staff and it was like taking candy from a baby. Long-term SAA is a good investment as Sorrell is a brilliant CEO - he was the Finance Director of Saatchi over 20 years ago when he was fired. He is getting his own back!! Watch this company closely.
Made error there. saatchi & Saatchi were taken over by WPP. M&C Saatchi is not the same company but maybe relative doing same thing. So not so bullish but may turn out OK with a bit of averaging.
Yes it was worth a little go. Hope you got them then. Looking atthis company with global interests andwell covered div I reckon its still worth a little go having dipped my toe but a bit more than you paid! General Election coming -Is it the conservatives that use them? Saatchi & Saatchi
I think these have bottomed. I suppose its worth a little go bit more reading first though