M&C

Shares in advertising agency M&C Saatchi (LON:SAA) shot up nearly 5 percent on Thursday morning, after recording record revenue and earnings for the 2017 year.

Revenues rose 12 percent to £251.5 million, up by 7 percent in constant currency terms. Profit before tax rose 16 percent to £27.7 million, with headline net earnings up 17 percent.

Performance was boosted by the addition of major new business wins including Visit Britain, The Body Shop and Clinique. Sport & Entertainment and PR and Mobile continued to trade well, despite a major performance dip in the Americas, where headline operating profit fell 53 percent.

David Kershaw, chief executive, said: “2017 was another record year for M&C Saatchi in terms of both revenue and earnings. Our established strategy of winning new business and starting new businesses continues to deliver.

“This year has begun well, and we are confident that we will continue to make good progress in 2018 and beyond.”

Shares in M&C Saatchi are currently trading up 4.48 percent at 420.00 (0839GMT).