M&C Saatchi sees profit 'materially' ahead of expectations; FCA probe ends

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Advertising agency M&C Saatchi said it had received notification that the Financial Conduct Authority had ended its probe of the company and that no enforcement action would be taken.

The company also provided a trading update, forecasting headline pre-tax profit to be 'materially ahead' of its previous expectations.

'The strong trading performance has further strengthened the group's cash position, providing the balance sheet flexibility to settle put option liabilities as they fall due in 2022, resume the payment of dividends and to continue the delivery of the group's growth strategy,' the company said.

'Momentum has continued into the start of 2022 with major client wins,' it added.