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M&C Saatchi plots overseas purchases
- Middle East: Monday, September 17 - 2012 at 12:32
Global advertising agency M&C Saatchi is set to announce this week plans to acquire rival firms, as it continues its international expansion, the Scotsman has reported. Analysts said M&C will make acquisitions to speed up its expansion. "The group has a strong balance sheet - with net cash of £19m at the end of this year - and we see scope for bolt-on acquisitions to supplement organic growth," said Paul Richards and Gareth Davies at Numis Securities. A string of contract wins, including Abu Dhabi airline Etihad Airways and Commonwealth Bank of Australia, are expected to have helped grow half-year pre-tax profits to £8.6m from £7.7m.
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