Further Trading Update

RNS Number : 4055J

M&C Saatchi PLC

16 August 2019

 

 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                         [phone]

David Kershaw

Mickey Kalifa

Tulchan Communications     [phone]

Tom Murray

Numis Securities                   [phone]

Nick Westlake, Hugo Rubinstein NOMAD

Charles Farquhar, Corporate Broking

 

END

 

 

TSTMMGMRNVLGLZM