M&C Saatchi Plc. (SAA.L) Thursday, in its latest trading update, said the like-for-like net revenue for the first quarter is broadly consistent with the previous year.
This was due to the good performance in the UAE and Europe, as well as strong results in the Issues and Media specialisms, which have effectively balanced ongoing macroeconomic challenges in Australia and the UK, the company added.
The international advertising agency network said that it remains committed to prioritizing long-term sustainable growth by investing in talent and capabilities, with these efforts primarily concentrated in the first half of the year.
Additionally, the company is on track to achieve approximately 3 million pounds in annualized cost savings as planned, M&C Saatchi added.
Zaid Al-Qassab, Chief Executive Officer, said, "We have delivered a resilient trading performance in the quarter and we remain confident in achieving market expectations this year, which reflects the strength of our proposition and our diversified portfolio. We remain confident in achieving our ambition of long-term profitable growth and delivering strong sustainable returns for shareholders."
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