M&C Saatchi (SAA): FY25 guidance and FY26 recovery

This situation live

£137m · 115.5p · −8% since the first step

19 Jan 2026 · FY25 delivered at low end; profitable growth targeted FY26 · −4% until the next step Further guidance for 2026 will be provided in our FY 2025 results announcement.

9 Mar 2026 · Medium-term growth confidence restated; CEO exit · −4% until the next step we remain confident in medium term growth across all profit indicators

11 Jun 2026 · Four months in line; FY26 growth targeted · −6% until the next step Trading for the first four months in line with market expectations for the year

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FY25 guidance and FY26 recovery

H1 weak, Q2 growth; FY in line

Next: H2 delivery of growth targets, new business and Issues comparator

Every step · 6

24 Nov 2025 FY25 guidance cut on US shutdown – The Company will announce a further trading update, in January 2026, in line with its regular reporting to the market. ↗
19 Jan 2026 FY25 delivered at low end; profitable growth targeted FY26 – Further guidance for 2026 will be provided in our FY 2025 results announcement. ↗
9 Mar 2026 Medium-term growth confidence restated; CEO exit – we remain confident in medium term growth across all profit indicators ↗
20 Apr 2026 FY25 delivered in line; FY26 growth targeted – First quarter trading has been in line with our expectations despite the challenging comparator from last year and continued tough macro conditions. ↗
11 Jun 2026 Four months in line; FY26 growth targeted – Trading for the first four months in line with market expectations for the year ↗
22 Sep 2026 H1 weak, Q2 growth; FY in line – The Group is targeting full year operating profit growth and operating margin improvement largely driven by growth in the high-margin Non-Advertising... ↗

What is happening

M&C Saatchi: FY25 guidance and FY26 recovery – H1 weak, Q2 growth; FY in line. ['H1 weak, Q2 growth; FY in line']

In short: FY25 was weak (LFL net revenue down 7.3%) and FY26 growth is targeted. The interims show H1 LFL net revenue down 1.4% and LFL operating profit down 31.7%, with a soft Q1 and Q2 back in modest growth. Management still expects FY LFL results in line with market expectations, so the recovery is H2-weighted.
Announced: 24 Nov 2025 · FY25 guidance cut on US shutdown
Latest: 22 Sep 2026 · H1 weak, Q2 growth; FY in line
Trading: First four months of 2026 in line with market expectations
Targets: Net revenue and operating margin growth in 2026
Drivers: Issues (easier Q4 comparator), Media, H2 new business
Recent wins: UNICEF, Ras Al Khaimah Tourism Development Authority, RAC Motoring Service, Brand USA
H1 LFL net revenue: £86.2m, down 1.4%; Q2 modest growth
H1 LFL operating profit: £6.2m, down 31.7%; margin 7.2%
FY26 targets: Net revenue growth, operating profit growth, margin improvement
Risk: Middle East conflict hits Sport & Entertainment and consumer-facing businesses

H2 delivery of growth targets, new business and Issues comparator.

From the company's own announcements. Not investment advice.

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What it does, how it got here, what management promised and delivered – written from its own announcements.

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