Business
Audited Results Full Year 2021 and Trading Update
Audited Results Full Year 2021 and Trading Update.
About this update from M&c Saatchi Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7917J\n M&C Saatchi PLC\n 29 April 2022\n \n \n \n \n M&C SAATCHI PLC\n \n \n (the \"Company\" or \"M&C Saatchi\")\n \n \n Audited Results for the Year Ended 31 December 2021 and Trading Update\n \n \n The Company today announces its audited results for the year ended 31 December 2021. The Company has demonstrated an exceptional turnaround at a time of unprecedented change and announces that trading is line with expectations for the first three months of 2022.\n \n \n Highlights\n \n \n · \n 2021 net revenue growth of 10.6%. Like-for-like growth of 15.1%.\n \n \n · \n Record 2021 Headline operating profit £31.1m (2020: £12.0m). Ahead of expectations, reflecting strong new business and deepening client relationships.\n \n \n · \n Record 2021 Statutory profit before tax £21.6m (2020: £8.5m loss). \n \n \n · \n 2021 Headline operating profit margin 12.5% (2020: 5.3%). \n \n \n · \n Net cash £34.4m (2020: £32.7m). Borrowings reduced to £20.6m (2020: £29.6m).\n \n \n ·\n New client wins and deepened relationships: Google, Uber, WHOOP, Gorillas, PepsiCo, TikTok and Mondelez.\n \n \n · \n Over 50 creative awards won in 2021 and a record number of effectiveness awards.\n \n \n ·\n Trading continues to be strong in the first quarter of 2022, with the Headline profit before tax for the years ending 31 December 2022 and 31 December 2023 expected to be in the region of £31.0m and £41.0m, respectively.\n \n \n Financial results for the year ended 31 December 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Headline *\n \n \n \n \n Statutory\n \n \n \n \n \n \n £m\n \n \n \n \n 2021\n \n \n \n \n 2020 \n \n \n \n \n Movement\n \n \n \n \n 2021\n \n \n \n \n 2020\n \n \n \n \n Movement\n \n \n \n \n \n \n Revenue \n \n \n \n \n 394.6\n \n \n \n \n 323.3\n \n \n \n \n 22.1%\n \n \n \n \n 394.6\n \n \n \n \n 323.3\n \n \n \n \n 22.1%\n \n \n \n \n \n \n Net revenue **\n \n \n \n \n 249.3\n \n \n \n \n 225.4\n \n \n \n \n 10.6%\n \n \n \n \n -\n \n \n \n \n -\n \n \n \n \n -\n \n \n \n \n \n \n EBITDA **\n \n \n \n \n 40.8\n \n \n \n \n 24.1\n \n \n \n \n 69.3%\n \n \n \n \n -\n \n \n \n \n -\n \n \n \n \n -\n \n \n \n \n \n \n Operating profit/(loss)\n \n \n \n \n 31.1\n \n \n \n \n 12.0\n \n \n \n \n 160.1%\n \n...