REG-M&C Saatchi PLC Interim Results 2008 - Part 3
Released : 25/09/2008 06:01
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Part 3 : For preceding part double click [nRn2Y2607E]
ended ended ended
30 June 2008 30 June 2007 31 December
2007
£'000 £'000 £'000
Revenue 51,769 37,309 87,620
Operating expenses (44,514) (34,487) (78,006)
Operating Profit 7,255 2,822 9,614
Adjustments for:
Depreciation of plant and equipment 724 759 1,463
Losses on sale of plant and equipment 13 9 (36)
(Profit) on sale of intangible assets (4) - (2)
Amortisation on acquired intangible assets 466 - 608
Amortisation of capitalised software intangible assets 37 - 106
Non-cash share based incentive plans 125 190 432
Operating cash flow before movements in working capital 8,616 3,780 12,185
and provisions
Decrease / (increase) in trade and other receivables 12,216 7,555 (22,064)
(Decrease) / increase in trade and other payables (17,872) (10,746) 18,870
Net cash inflow from operating activities 2,960 589 8,991
M&C SAATCHI PLC
NOTES TO THE INTERIM STATEMENTS
SIX MONTHS ENDED 30 JUNE 2008
13. Cash consumed by acquisitions
Six months Six months Year
ended ended ended
30 June 2008 30 June 2007 31 December
2007
Acquisitions £'000 £'000 £'000
Initial cash consideration
- Clear Ideas Ltd - - (14,508)
- Walker Media Holdings Ltd (19.5% acquisition) - - (8,922)
- Walker Media Holdings Ltd (5.5% acquisition) (3,898) -
- Talk PR Ltd - - (3)
- M&C Saatchi Berlin Gmbh - - (358)
- Play London Ltd (43) - -
(3,941) - (23,791)
Cash and cash equivalents acquired - - 776
(3,941) - (23,015)
Purchase of associate (Zapping, Spain) - (1,542) (1,587)
Deferred and contingent consideration paid
- Clear Ideas Ltd (2,436) - -
- Walker Media Holdings Ltd(19.5% share acquisition) (5,369) - -
- Zapping (Associate, Spain) (2,376) - -
Total (10,181) (1,542) -
Total payments made in the period relating to acquisitions (14,122) (1,542) (24,602)
14. Capital Commitments
The only significant capital commitment is our agreement to acquire a further
50% of Zapping Publicidad, S.A and its group over the next three years.
This information is provided by RNS
The company news service from the London Stock Exchange
END