Business
Final Results - 2009 Prelimin
Final Results - 2009 Prelimin.
About this update from M&c Saatchi Plc
[{"type":"text","content":"\n RNS Number : 1415J M&C Saatchi PLC 25 March 2010 \n \n\n \n \n \n \n \nM&C SAATCHI PLC\n \n \nPRELIMINARY RESULTS\n \n \nYEAR ENDED\n31 DECEMBER 2009\n \n \n \n \n \n \n25 MARCH 2010\n \n\n\nGroup Highlights\n· Revenues stable at £103.4m (2008: £104.4m); down 5% using constant currencies\n· Headline operating profit excluding impact of new offices £11.8m (2008: £13.7m)\n· Headline operating profit £10.4m (2008: £13.7m)\n· Headline operating margin excluding impact of new offices 11.5% (2008: 13.2%)\n· Headline operating margin 10.0% (2008: 13.2%)\n· Headline profit before tax £10.3m (2008: £14.1m)\n· Cash and cash equivalents £15.1m (2008: £9.3m)\n· Group debt £4.4m (2008: £6.7m)\n· Total dividend for year held at 3.62p per share\n \nDevelopments in 2010\n \n· New offices opened in South Africa and Guangzhou (China)\n· Agreement in principle to acquire a majority stake in Inside Mobile, a specialist mobile marketing business\n· New ownership structure in Australia \n· Agreement in principle to acquire minority stake in Lebanon based agency Quantum and to expand presence in the Middle East and North Africa region\n \nCommenting on the results, David Kershaw, Chief Executive, said:\n \n\"M&C Saatchi has delivered in a challenging and unpredictable year. Through 2009 we kept a control on costs, ensuring that we maintained investment in the business. The Group is well placed to grow as the economic environment improves.\n \n\"In 2010 the Group is investing in new geographies and expanding our existing brands into new markets. We have announced the new office in South Africa and we will be expanding our presence in the Middle East and North Africa region. The Group is delighted to announce the acquisition of Inside Mobile, a fast-growing mobile marketing specialist.\n \n\"2010 has started well both operationally and financially and the Group is well positioned to meet any pick up in demand. Visibility remains an issue, but we remain confident in our bu...