M&C Saatchi says on track to deliver cost savings as sheds Swiss arm
16th May 2024 13:13
(Alliance News) - M&C Saatchi PLC on Thursday said trading was in line with expectations and "well ahead" of the "challenging" prior year. Read More
(Alliance News) - M&C Saatchi PLC on Thursday said trading was in line with expectations and "well ahead" of the "challenging" prior year. Read More
(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - M&C Saatchi PLC on Thursday named joint chief creative officers, in a new role for the company, which it believes will "drive transformative results". Read More
(Alliance News) - M&C Saatchi PLC on Wednesday reported a decline in profit, citing challenging market conditions for advertising, consultancy and media, as it aimed to simplify how to target its clients. Read More
M&C Saatchi PLC - London-based communications company - Announces divestment of shares in the M&C Saatchi South Africa Group. The group includes M&C Saatchi Abel, Connect, Levergy, Razor, Dalmatian and Black & White. Says the shares are being acquired by "existing local leadership teams", comprising the directors and minority owners of the group. In 2023, the South Africa Group generated a consolidated post-tax profit of GBP1.3 million. The cash consideration for the shares is GBP5.6 million, and M&C Saatchi says the divestment aligns with its strategy "to simplify its operating structure while retaining its valued affiliation with this South African group of agencies". Last week, M&C Saatchi divested certain French associate investments, including Cometis, Australie, and M&C Saatchi Little Stories, for a consideration of EUR1 million. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - KPMG International Ltd has been fined almost GBP1.5 million by the UK accounting watchdog over its audit of advertising firm M&C Saatchi PLC. Read More
(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Thursday and not separately reported by Alliance News: Read More
M&C Saatchi PLC - London-based advertising agency - Appoints Heather Rabbatts as senior independent director, joining the board on Monday. Rabbatts currently is a non-executive director of retailer and food maker Associated British Foods PLC. Previously she was a non-executive director of construction firm Kier Group PLC. Rabbatts, age 68, also was the first woman on the board of the Football Association, M&C Saatchi notes. Read More
M&C Saatchi PLC - London-based advertising agency - Sells loss-making subsidiaries in Sweden and Hong Kong to their local managers for little or no money, saying they are non-core activities. Reduces stake in M&C Saatchi AB in Sweden to 30% from 70% and sells entire shareholding in M&C Saatchi Spencer Hong Kong Ltd. Also is in negotiations to divest M&C Saatchi Holdings Asia Pte Ltd. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
M&C Saatchi PLC - London-based advertising agency - Net revenue in the six months that ended June 30 declines 7.0% to GBP120.4 million from GBP129.4 million a year before, but M&C Saatchi says within that double-digit-percentage growth in 'Issues' and 'Passions' specialisms show the benefit of its diversification away from traditional advertising. Swings to pretax loss of GBP5.1 million from GBP300,000 profit. On an adjusted basis, pretax profit nearly halves to GBP8.8 million from GBP16.0 million. Net cash falls to GBP15.4 million from GBP39.7 million. Declares no interim dividend, unchanged from a year before. Paid a final dividend for 2022 and intends to adopt a progressive dividend policy in the future. Read More
(Alliance News) - M&C Saatchi PLC on Monday said Chief Executive Officer Moray MacLennan intends to retire, effective September 30, prompting a search for his successor. Read More