Business
M&C Saatchi - 2022 Interim Results
M&C Saatchi - 2022 Interim Results.
About this update from M&c Saatchi Plc
[{"type":"text","content":"\n \n \n \n M&C SAATCHI PLC\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 \n \n INTERIM RESULTS\n \n \n \n \n \n \n \n \n SIX MONTHS ENDED\n \n \n 30 JUNE 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 7 September 2022\n \n \n \n \n \n \n \n \n \n \n \n \n M&C SAATCHI PLC\n \n \n (the \"Company\")\n \n \n Interim results for the six months\n \n \n ended 30 June 2022\n \n \n \n \n \n \n A strong first half performance, with Headline PBT over 50% ahead of H1 2021\n \n \n \n \n \n \n \n \n \n H1 Highlights\n \n \n \n \n Financial\n \n \n \n \n \n \n \n ·\n Net revenue of £129.4million, up 9.6% versus H1 2021 (£118.1million).\n \n \n ·\n Headline operating profit margin increased to 14.0%, up 3.5pts versus H1 2021.\n \n \n ·\n Headline profit before tax (\"PBT\") of £16.0million, up 52.4% versus H1 2021.\n \n \n ·\n Statutory profit before tax of £0.3million, versus £4.8million in H1 2021, impacted by the ongoing takeover transaction costs.\n \n \n ·\n Balance sheet strong, with net cash at 30 June 2022 of £39.7million, versus £31.8million at 30 June 2021.\n \n \n \n \n \n \n \n \n \n \n Operational\n \n \n \n \n \n \n \n ·\n The accelerated delivery of our strategy has continued to drive growth with new and existing clients, including Barclays, Samsung, Pepsico and Grab.\n \n \n ·\n Technology platforms, new capabilities and collaboration processes have driven connected revenue, which now accounts for over 50% of net revenue.\n \n \n ·\n Digitisation continues by scaling the data offering, launching an innovation practice (Thread), andeveloping a proprietary SME marketing SaaS platform (Grow Technology).\n \n \n ·\n M&C Saatchi LIFE, our sustainability consultancy, was launched, to address the rapid increase in client demand relating to climate challenges.\n \n \n ·\n Start-ups launched in H1 2022 (mentioned above) are already working with significant clients, including Kenwood, Google and Disney+.\n \n \n ·\n Simplification of the Group continues, through standardising systems and a global efficiency programme to deliver future cost savings.\n \n \n \n \n \n \n \n \n \n \n Current trading and outlook\n \n \n \n \n \n \n \n · \n Momentum from H1 has continu...