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
M&C Saatchi PLC - London-based advertising agency - Appoints Trustpilot Group PLC Chair Zillah Byng-Thorne as independent non-executive chair, effective immediately. This was first announced in late March. Says Byng-Thorne "brings a wealth of experience across media and technology businesses". Notes Byng-Thorne was recently chief executive officer at Future PLC and has served on the boards of Flutter Entertainment PLC, GoCompare.com Ltd and Auto Trader Group PLC. Read More
(Alliance News) - M&C Saatchi PLC shares dropped on Wednesday, after it said a "more challenging" trading environment has continue into the second quarter of 2023. Read More
(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Monday and not separately reported by Alliance News: Read More
(Alliance News) - Shares in M&C Saatchi PLC were 3.3% lower at 177.53 pence on Tuesday afternoon in London, despite the company reporting record revenue and headline profit for 2022, as its statutory pretax profit figure plunged. Read More
(Alliance News) - M&C Saatchi PLC on Wednesday appointed interim Chief Financial Officer Bruce Marson into the permanent role. Read More
M&C Saatchi PLC - London-based advertising agency - Hires Zillah Byng-Thorne as board chair, replacing Gareth Davis at the company's annual general meeting in June. Byng-Thorne is the long-serving chief executive officer of magazine publisher Future PLC, but she is leaving that post on Friday. She also is set to be chair of website reviews platform Trustpilot Group PLC, starting on Monday. Read More
(Alliance News) - M&C Saatchi PLC on Wednesday announced its five-year plan, announcing new financial targets for 2022 to 2027. 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) - The following is a round-up of share dealings by London-listed company directors and managers announced in the past week and not separately reported by Alliance News: Read More
Next Fifteen Communications Group PLC - London-based digital marketing firm - Voters at court meeting do not accept Next Fifteen's bid to buy London-based advertising agency M&C Saatchi PLC. M&C says over 89% of voters decide against the proposal. The outcome was expected. "As a result of the failure to pass the required resolution at the M&C Saatchi reconvened court meeting, the scheme has lapsed and the acquisition of M&C Saatchi PLC by Next 15 has terminated," Next 15 says. Company adds: "Next 15 will always maintain pricing discipline when pursuing its M&A strategy, which may result in certain transactions not proceeding. The board remains highly confident in the Next 15 group's future prospects." Read More
(Alliance News) - Next Fifteen Communications Group PLC on Tuesday said its own shareholders backed the acquisition of M&C Saatchi PLC, though it expects the advertising company's investors to reject it when they have their say later this month. Read More