M&C Saatchi Group (SAA.L), a British communications company, on Wednesday reported a pre-tax income for the first-half, supported by a decline in costs and expenses.
For the six-month period to June 30, the company posted a pre-tax income of 11.254 million pounds, compared with a loss of 5.059 million pounds in the previous year.
Headline pre-tax earnings were at 14.558 million pounds, compared with 8.848 million pounds a year ago.
Net profit stood at 8.113 million pounds or 6.40 pence per share as against last year's loss of 6.376 million pounds or 5.22 pence per share.
Headline income was at 10.026 million pounds, higher than 5.462 million pounds a year ago.
Operating profit was 14.147 million pounds, compared with a loss of 3.269 million pounds in 2023.
Headline operating profit surged to 17.467 million pounds from 9.980 million pounds a year ago.
Staff costs dropped to 86.583 million pounds from 99.030 million pounds in 2023.
Depreciation also narrowed to 3.809 million pounds from prior year's 4.458 million pounds.
Other operating charges decreased to 16.053 million pounds from 17.731 million pounds last year.
Other gains were 0.339 million pounds, compared with a loss of last year's 1.922 million pounds.
Net revenue improved to 120.406 million pounds from 120.391 million pounds a year ago.
Project cost moved down to 93.148 million pounds from 96.281 million pounds last year.
Revenue was 213.554 million pounds, down from 216.672 million pounds in 2023.
Zaid Al-Qassab, Chief Executive Officer of M&C Saatchi, said: "Looking forward, despite continued volatility within our markets, we are confident that we are on track to deliver against market expectations for FY 2024, whilst noting the tougher second half comparators."
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