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LONDON, Jan 21 (Reuters) - British advertising group M&C
Saatchi said on Friday the Financial Conduct Authority
has closed an investigation into the company and that no
enforcement action would be taken.
The firm, which earlier this month said it did not see much
merit in a possible all-share takeover instigated by its biggest
investor, software entrepreneur Vin Murria, also upgraded its
profit outlook.
It said that as a result of a strong end to the year, full
year 2021 headline profit before tax will be materially ahead of
its previous expectations. It added that momentum has continued
into the start of 2022 with major client wins, helping it to
settle put option liabilities when they fall, and resume
dividend payments.
(Reporting by James Davey; Editing by Kate Holton)
