1st Feb 2019 08:52
LONDON (Alliance News) - M&C Saatchi PLC on Friday said it expects its annual results to be in line with the board's expectations as it saw organic revenue growth in 2018.
Separately, the company said it disposed of a business unit to French advertising giant Publicis Groupe SA.
M&C Saatchi shares were trading up 6.7% at 304.00 pence each in London on Friday.
For 2018, the UK advertising firm said it continued to "outrun sector averages".
"The group continues to deliver above industry average organic growth with our proven strategy of starting new businesses and winning new business," Chief Executive Officer David Kershaw said.
Furthermore, the company said it made a good start to 2019 and is confident to make further good progress.
M&C Saatchi said it sold its remaining 24.9% stake in Walker Media to Publicis for GBP25 million in cash. The company will use the sale proceeds to fund future growth and start new businesses.
In 2017, Walker Media contributed associate income of GBP1.6 million.