M&C Saatchi plc (SAA.L), a creative solutions and marketing communications company, on Thursday reported its profit before tax declined in the first half compared with the previous year.
For the first half of the year, profit before tax decreased to 4.29 million pounds from 10.81 million pounds in the prior year.
Earnings per share were 2.58 pence versus 6.24 pence last year.
EBITDA fell by 36.6 percent to 11.1 million pounds from 17.5 million pounds in the previous year.
Operating profit also decreased 45.3 percent to 7.45 million pounds from 13.67 million pounds in the previous year.
Revenue declined 7.7 percent to 103.84 million pounds from 112.42 million pounds in the previous year.
Looking ahead, the Group expects full-year like-for-like revenue to decline by mid-single digits.
Full-year profit is targeted to be in line with last year, supported by at least 12 million pounds of annualised cost savings in full year 2025, of which at least half will be realised in-year.
For the Medium term, the Group anticipates a return to growth at improved margins, supported by its brand strength, regional-first model, and recent investments in people and systems.
On Wednesday, M&C Saatchi closed trading 3.40% higher at 167.50 on the London Stock Exchange.
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