Released : 29/06/2011 07:00
RNS Number : 2755J
M&C Saatchi PLC
29 June 2011
29th June 2011
M&C Saatchi PLC
Annual General Meeting and Interim Management Statement
M&C Saatchi PLC today announces its Interim Management Statement relating to the six months ended 30th June 2011 ahead of its Annual General Meeting ("AGM") today.
At the AGM, Jeremy Sinclair, Chairman M&C Saatchi PLC, will make the following statement:
"The Group has continued the progress made in 2010. The new offices are performing promisingly and the new business performance has been good.
2011 new business wins include FTI Consulting, Kasperski, BAE Systems, Garmin, Vertu, Google, Lenovo and Siemens.
We are pleased that the new business wins are increasingly international, and with the worldwide agency network now in place, look forward to further growth from multi-national clients.
We expect all new offices to be profitable by the end of the year, with Italy and South Africa already developing scale within the network.
We acquired Fabra & Quinteiro in Brazil and expanded our investments in data and social marketing, as announced at the preliminary results.
The balance sheet remains robust and the cash position healthy.
2011 has started well and we will be looking to maintain this performance into the second half."
For further information, please contact:
M&C Saatchi plc
Jeremy Sinclair, Chairman +44 (0)20 7543 4500
David Kershaw, Chief Executive
Numis Securities +44 (0) 207 260 1000
Richard Thomas, NOMAD
Charles Farquhar, Corporate Broking
Tulchan Communications +44 (0) 207 353 4200
This information is provided by RNS
The company news service from the London Stock Exchange