M&C Saatchi YTD trading ahead of expectations

Media company M&C Saatchi Group said on Tuesday that trading in the first four months of the year had been "stronger than anticipated", with the group now expecting its full-year results to be ahead of consensus expectations.

M&C Saatchi stated its new business performance had been "robust" year-to-date, with new clients ranging from the UK's digital Census campaign, Tinder in Southeast Asia and Australian energy company Origin.

The AIM-listed group also said it had received briefs from Lexus, Reckitt Benckiser, Sonos, and Commonwealth Bank.

M&C Saatchi added that it had entered into a committed revolving facility agreement with National Westminster Bank and Barclays Bank for up to £47.0m, provided to the group on a three-year term, with two optional one-year extensions.

As of 1055 BST, M&C Saatchi shares had shot up 10.92% at 141.97p.