M&C Saatchi plc (LON:SAA) has announced a trading update for the twelve months ended 31 December 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.”
M&C Saatchi will communicate the FY 2024 results announcement date in due course.
