M&C Saatchi FY net cash seen ‘substantially’ ahead of expectations

M&C Saatchi said on Monday that full-year net cash will be "substantially ahead" of expectations, while pre-tax profit will be in line.

In an update for the year to the end of December, the advertising firm said underlying profit before tax and exceptional items will meet the board’s expectations set out in the December trading update.

In addition, net cash for the year is expected to be "at least" £15m following "the implementation of improved cash collection processes".

At 1505 GMT, the shares were down 2.9% at 117.50p.