By Josh White
Date: Thursday 16 Mar 2017
(ShareCast News) - Global advertising agency M&C Saatchi posted its final results for the 2016 calendar year on Thursday, claiming record results in revenue and earnings with revenue rising 26% to £225.3m, and revenue in constant currencies improving 19% to £213.1m.
The AIM-traded company claimed like-for-like revenue growth of 9% to £195.6m.
Operating profit was 24% firmer at £23m, and profit before tax was up 18% at £23.7m.
Profit after tax and MI was 17% higher at £15.4m, with earnings per share strengthening 13% to 21.07p.
The board confirmed the full-year dividend was 15% higher at 8.29p.
It said the group's global network performed well across all geographies, with like-for-like revenues in the UK up 5% as the CRM, Sport & Entertainment and Mobile divisions continued to perform particularly positively.
UK operating profit was down 12%, impacted by the previously-announced restructuring costs in the advertising agency.
Europe like-for-like revenues were up 5%, while operating profit increased 10%, and in the Middle East and Africa like-for-like revenues were 23% higher, with operating profit up 4%.
Asia and Australasia like-for-like revenues firmed 13%, and operating profit was up 37%, while in the Americas constant currency revenues were up 97% following New York investments and like-for-like revenues were up 18%, with operating profit up 118%.
The final dividend increased 15% to 6.44p.
"2016 was an outstanding year for M&C Saatchi," commented chief executive David Kershaw.
"We continue to roll out our proven strategy of winning new business and starting new businesses and see positive momentum across our global network and business channels.
"The year has started well and we are confident that we will continue to make good progress in 2017 and beyond."
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