Tuesday 21 September 2021 8:02 am

M&C Saatchi revenues of £118m mark 'key turning point'

M&C Saatchi Plc has reported net revenue of £118m for its half-year results, up by 14 per cent compared to the same period last year, as profits at the advertising giant have exceeded pre-pandemic levels.

The results were also ahead of the London-listed firm’s initial expectations.  

The Group said its “strong financial governance” had enabled the M&C Saatchi board to settle put options in cash instead of shares. The move eliminates the risk of “substantial” share dilution, said the company in a statement.

Chief executive officer Moray MacLennan said the decision also reflected the company’s confidence in the future.

He described the half-year results as a “key turning point for M&C Saatchi.”