Last checked at 16 Aug 2019 18:20
M&C Saatchi plc
Further trading update
The Company reiterates its guidance from 12th August 2019 that the Board is confident that it will meet expectations of operating profit for the year, before the exceptional charges referred to in that announcement. As disclosed on 12th August 2019, the 2019 interim results are expected to show a decline in profit before tax against H1 2018. The first half results are also expected to show a decline against H1 2017 and 2016.
We expect an increase in like for like operating profits for the full year, excluding the impact of the investment in Walker Media (sold in February 2019) and the above-mentioned exceptional charges. This is as a result of H1 2019 having a larger number of loss-making entities, including start-ups, compared to prior years and the impact of the timing of revenues in 2019, including recent client wins and additional projects, the benefits of which we expect to flow to the second half year operating profit.
For further information please call:
M&C Saatchi +44 (0)20-7543-4500
David Kershaw
Mickey Kalifa
Tulchan Communications +44 (0)20-7353-4200
Tom Murray
Numis Securities +44 (0)20-7260-1000
Nick Westlake, Hugo Rubinstein NOMAD
Charles Farquhar, Corporate Broking