REG - M&C Saatchi PLC - 2024 Full Year Trading Update

M&C SaatchiAnnouncement

17/01/2025 07:00

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RNS Number : 6772T  M&C Saatchi PLC  17 January 2025

17 January
2025

M&C SAATCHI PLC

(the "Company" or "M&C Saatchi")

 

2024 Full Year Trading Update

 

Strong performance, in line with expectations 1 

Full year growth in net revenue, operating margin and profit demonstrates a
successful year of transformation

 

M&C Saatchi plc is pleased to announce a trading update for the twelve
months ended 31 December 2024 ("FY 2024").

 

Trading in the second half of the year maintained first half momentum,
supported by the Company's diverse portfolio and strong growth in Issues,
Media and the UAE, enabling full year group like-for-like net revenue growth
of circa 3.5% with reported net revenue at circa £243 million. The Board
anticipates that full year profit before tax and operating margin will be in
line with market expectations, with progress in delivering group-wide
efficiency programmes enabling second half organic reinvestment into group
capabilities and talent.

 

The Company's balance sheet position remains strong with net cash of circa
£16 million at 31 December 2024 and available facilities of £36 million in
place to take advantage of strategic opportunities, in line with the Company's
capital allocation policy. Additionally, with the ongoing settlement of put
options and increased cash management focus, there are expected to be
significant cash tailwinds into 2025 and beyond.

 

Zaid Al-Qassab, Chief Executive Officer, said:

"We are encouraged by the second half 2024 results, driven by our global
network and specialist capabilities within our new agile, regional-first
operating model. This, combined with the execution of our ongoing group-wide
transformation, is positively impacting the business. I would like to thank
all our colleagues at M&C Saatchi for their commitment and continued
efforts during this transformative year, as we continue to create advantage
for clients through connected creativity and excellent client service. Whilst
we remain mindful of ongoing macro volatility, we are confident we are putting
the foundations in place to achieve our ambition of long-term profitable
growth and delivering strong sustainable returns for shareholders."

 

The Company will communicate the FY 2024 results announcement date in due
course.

FURTHER INFORMATION

 M&C Saatchi                                           +44 (0)20-7543-4500
 Zaid Al-Qassab, Chief Executive Officer
 Simon Fuller, Chief Financial Officer
 Thomas Fahey, Head of Investor Relations

 Headland Consultancy                                  +44 (0)20-3805-4822
 Rob Walker / James Waters

 MCSaatchi@headlandconsultancy.com

 Panmure Liberum - Nominated adviser and joint broker  +44 (0)20-3100-2000
 Max Jones, Edward Mansfield, Will King

 Deutsche Numis - Joint broker                         +44 (0)20-7260-1000
 Nick Westlake, Iqra Amin

 

About M&C Saatchi
M&C Saatchi is a creative solutions company with specialist expertise and
creativity in helping our clients grow by maximising the reach and potential
of their brands. It does this through its regional-first operating model with
five core specialisms - Advertising, Issues, Passions, Consulting and Media -
which it leverages in an integrated go-to-market approach. It has significant
global reach, with major hubs in the UK, Europe, Middle East, APAC and the
Americas and is supported by global shared services.  M&C Saatchi is
headquartered in London and listed on the FTSE AIM index of the London Stock
Exchange.

 1  Please see https://www.mcsaatchiplc.com/analysts/consensus
(https://www.mcsaatchiplc.com/analysts/consensus) for market consensus
estimates

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