Advertising agency M&C Saatchi today said it had returned to profitability after pretax profits of £21.6m for 2021, compared to an £8.5m loss in 2020.
The communications agency spun out of Saatchi & Saatchi in 1995 said it plans to reinstate its dividend 2022, after failing to pay it last year.
The firm claimed its strong trading performance had continued into the start of this year, as it said it expects to generate between £31m and £41m in profits in 2022.
M&C Saatchi said it had strengthened its relationships with clients including Tik Tok, Google, and Uber, as it claimed it had made an “exceptional turnaround at a time of unprecedented change.”
The results come just a day after M&C Saatchi extended its “Put Up or Shut Up” deadline, calling on takeover bidder AdvancedAdvT to either boost its offer or walk away from the deal.
M&C Saatchi had claimed AdvT had undervalued its business, as the two firms failed to come to an agreement despite months of back and forth.
The firm said its “record-breaking” results came as it won new clients such as WHOOP and PepsiCo and launched new campaigns for existing clients such as Uber.