M&C Saatchi shares slashed on results warning

By
0 mins. to read
M&C Saatchi shares slashed on results warning
Master Investor Magazine

Master Investor Magazine 57Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

The price of shares in FTSE 250 advertising agency M&C Saatchi (LON:SAA) has dropped by 45.99% to 79.26p (as of 15:20 GMT) after it warned that results for the 2019 full year would be below expectations. The company also faced charges of £11.6 million split over the current and previous year following an accounting review.

CEO David Kershaw commented: “This restatement of our numbers and the reduction in forecasts make for very difficult reading – both for us as a management team and for all of our stakeholders. The only positives that we can offer are that a robust review has been undertaken and we have, under our new Group Finance Director, started implementing processes and procedures to prevent such issues arising again.

“The trading performance in the second half of this year is disappointing. However our operating businesses remain strong, creative and competitive and we expect that, when combined with the impact of our restructuring coming through, we will have a stronger trading performance in 2020“.

Take part in our poll

Of the stocks covered by Master Investor in the weekly Small Cap Round Up, which ones do you hold?


The Master Investor Show 2020 tickets are now available. Join us at the Business Design Centre on Saturday 28 March 2020.

Book your FREE tickets today using code: MIBLOG

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.