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Advertising firm M&C Saatchi posted a rise in first-half profit and upgraded its annual guidance, as demand bounces back following an end to lockdowns.
Pre-tax profit for the six months through June increased to £10.5 million, up from £2.0 million year-on-year. Revenue climbed 14% to £118.1 million.
M&C Saatchi, which didn't declare an interim dividend, said it expected its full-year pre-tax profit and earnings to be 'substantially' ahead of consensus.
Momentum from the first half, it said, had continued into the second, with important client retentions and new wins.
'These results mark a key turning point for M&C Saatchi,' chief executive Moray MacLennan said.
'We have returned to growth with first-half profits not only substantially ahead of 2020, but also surpassing 2019.'
'Our focus on simplification and control, has continued to strengthen both our operating margin and balance sheet, which enables us to successfully pursue our strategy for growth.'