Business
PRELIMINARY RESULTS 2010
PRELIMINARY RESULTS 2010.
About this update from M&c Saatchi Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 5204D M&C Saatchi PLC 24 March 2011 \n \n\n \n \n \n \n \nM&C SAATCHI PLC\n \n \nPRELIMINARY RESULTS\n \n \nYEAR ENDED\n31 DECEMBER 2010\n \n \n \n \n \n \n24 MARCH 2011\n \n\n\nGroup Highlights\n· Strong financial and operational results, with growing momentum throughout 2010\n· Group revenues up 21% at £125.1m (2009: £103.4m); up 15.6% using constant currencies\n· Headline operating profit up 28.3% to £13.3m (2009: £10.4m)\n· Headline operating margin 10.6% (2009: 10.0%)\n· Statutory operating profit up 24.5% to £12.7m (2009: £10.2m) \n· Headline profit before tax up 29% to £13.3m (2009: £10.3m)\no UK: revenues up 9% in competitive market\no Europe: like-for-like revenues up 18%, despite challenging trading conditions\no Asia and Australia: like-for-like revenues up 14%\no Clear: operating profits up 53%, with good growth in the US and Asia\n· Cash at year-end of £31m (2009: £15m), of which £19m is advance 2011 client payments\n· Balance sheet further strengthened, with Group debt reduced to £2.3m (2009: £4.4m)\n· Headline basic earnings per share up 24% at 12.59p (2009: 10.15p)\n· Final dividend up 10.2% to 3.03p (2009: 2.75p); total dividend up 7.7% to 3.90p (2009: 3.62p)\n \nSee note 1 for definition of headline. In discussing segmental results, operating profit is stated excluding the impact of Group recharges.\n \nOperational highlights\n· Strong new business performance; UK with best levels of wins since 2004\n· Three new offices opened (Cape Town, Johannesburg and Milan), in line with strategy of organic development in key markets\n· Acquisition of Inside Mobile, a specialist mobile marketing business\n· Launch of M&C Saatchi MENA in partnership with Quantum Group\n \nDevelopments in 2011\n· Continued roll-out of higher margin growth businesses (Clear, Sport & Entertainment and Mobile) across M&C's international network\n· Investment in future growth:\no Completion of global netwo...