Business
Interim Results 2008
Interim Results 2008.
About this update from M&c Saatchi Plc
[{"type":"text","content":"\n RNS Number : 2607E M&C Saatchi PLC 25 September 2008 \n \n\nM&C SAATCHI PLC\n\nINTERIM RESULTS\n\nSIX MONTHS TO\n30 JUNE 2008\n\n\n\n\n\n\n\n\n\n\n\n25 September 2008\n\n\nM&C Saatchi plc 2008 Interim Results\n\nHeadline Results\n\n\n\nRevenue up by 38.8% to £51.8m (2007: £37.3m)\n\n\nLike for like revenue growth 18.7%\n\n\nOperating profit up by 174% to £7.7m (2007: £2.8m)\n\n\nOperating margin up to 14.9% (2007: 7.6%)\n\n\nProfit before tax up 107% to £8.0m (2007: £3.9m)\n\n\nBasic earnings per share up 147% to 8.62p (2007: 3.50p)\n\n\nInterim dividend held at 0.87p\n\n\n\nThe headline results referred to above are stated before accounting for the following items:\n\n\n\nAmortisation of acquired intangibles and goodwill write offs\n\n\nFair value adjustment to minority put option liabilities\n\n\nNotional interest on deferred consideration\n\n\n\nA reconciliation of the difference between the headline results and the statutory result is shown in note 4 to the interim statements. \n\nLike for like revenue is stated after excluding the impact of exchange, acquisitions and discontinued operations. \n\nCommenting on the results, David Kershaw the Chief Executive said: \n\n'We are pleased to report that M&C Saatchi saw a strong start to 2008 as we saw a good performance from both our organic and acquired businesses. There is no doubt the economic environment is increasingly challenging and we have felt the effects of this in the US and our Spanish business. Despite this, our global network remains strong and we have continued to win new business across our divisions. The outlook for the full year remains in line with management expectations.\n\nAt this time the uncertain economic environment leads us to be cautious about medium term visibility. However our balance sheet remains strong and we will continue to invest in markets which we believe will position us well for growth in the long term.' \n \nFor further information please call:\nM&C Saatchi plc 020 7543 4500\nDavid Kershaw, Chief Exec...