M&C Saatchi expects to post full year 2022 net revenue of £271 million, up 9% on 2021, with strong business wins and cost savings.
The advertising group says this reflects a strong performance in the company's higher growth specialisms (which grew 17%) and in the UK and Americas.
Full year to headline profit before tax is expected to be at least £31 million, in line with previous expectations, underpinned by strong new business wins and cost savings.
This represents growth of at least 14% versus 2021 and the largest headline profit ever generated by the company.
Costs of a hostile takeover last year ate into profits. In the half year to June 2022, M&C Saatchi posted a statutory profit before tax of £0.3 million, down from £4.8 million in the same half year in 2021, impacted by the “ongoing takeover transaction costs” of £9.3 million.
M&C Saatchi expects to announce its financial results for the twelve months to December in April.
CEO Moray MacLennan: "2022 was another record year for M&C Saatchi. We remained focussed on delivery for our clients, resulting in excellent retention and new business wins.
“Investment in new capabilities and our unique specialist expertise position us well for 2023, and beyond."
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