StockMarketWire.com - Advertising company M&C Saatchi forecast a small underlying profit for the first half, which it said was ahead of its expectations.

The company said its performance in the six months through June was particularly resilient in the second quarter, driven by continued growth in its world services division and a 'robust' new business performance across sectors and geographies.

New assignments included those from TikTok, BP, Bayer, and Tele2.

'Given the uncertain global economic environment over the last few months, these initial results are encouraging and more favourable than management's expectations,' M&C Saatchi said.

'Although revenue declined in the first half ... the better-than-expected second quarter performance and the swift and decisive action taken in reducing costs has resulted in a relatively stable first half year performance, stronger than was anticipated at the start of the pandemic.'


At 9:12am: [LON:SAA] MC Saatchi PLC share price was +6.8p at 53.2p



Story provided by StockMarketWire.com