M&C Saatchi YTD trading ahead of expectations

M&C Saatchi

176.00p

11:49 24/12/24

-1.68%

-3.00p

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.

FTSE AIM All-Share

717.27

12:00 24/12/24

n/a

Media

12,850.39

12:00 24/12/24

0.53%

67.70

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.