AGM Trading Update
M&C Saatchi PLC has announced that trading for the first four months of the year is in line with market expectations, with like-for-like net revenue supporting the full-year outlook. The company is experiencing positive growth in its high-margin Issues and Media specialisms, which is offsetting a challenging market environment. Recent client wins include UNICEF, Ras Al Khaimah Tourism Development Authority, RAC Motoring Service, and Brand USA. The Executive Chair expressed satisfaction with the business's progress and reiterated the focus on simplifying operations, refining the go-to-market offering, and unlocking intrinsic value to deliver sustainable shareholder returns, supported by an ongoing share buyback program.
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M&C Saatchi is pleased to announce a trading update ahead of today's Annual General Meeting.
Like-for-like net revenue is in line with expectations and supportive of the market's full year outlook. Trading reflects positive growth in our high-margin Issues and Media specialisms, compensating for a continued difficult market environment. In recent weeks, the business has delivered numerous client wins such as UNICEF, Ras Al Khaimah Tourism Development Authority, RAC Motoring Service and Brand USA.
Dame Heather Rabbatts, Executive Chair, said:
"Although the global macro and geopolitical situation remains volatile, I am pleased with the progress that the business has made. We continue to target net revenue and operating margin growth this year, supported by the momentum in our high-margin specialisms. Assuming the role of Executive Chair in April has reinforced my view on the depth of capability and talent that this business has. Our focus remains, as I highlighted when I took the role, on simplifying the business, refining our go-to-market offering and unlocking the Company's intrinsic value to deliver strong sustainable returns for shareholders, including through our ongoing share buyback programme."
1 Company compiled full year consensus available at: https://www.mcsaatchiplc.com/analysts/consensus.
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