M+C Saatchi's March quarter like-for-like net revenue was broadly “broadly in line” with last year, according to a trading update released at the company's AGM.
This implies a flat quarter compared to the same three months last year.
The company posted a 3.7% increase to £231 million in like-for-like net revenue for 2024 but the advertising side slipped into negative.
The global advertising group has been restructuring and cutting costs. The company said the planned delivery of £3 million of annualised cost savings is on track.
In Australia, M+C Saatchi has been hiring and reorganising, moving to a more consulting business with higher margins.
In January, the group M&C Saatchi announced a series of strategic hires across its creative departments as part of a new focus under its Cultural Power proposition.
M+C Saatchi said the latest March quarter results reflect continued strength in the UAE and Europe as well as Issues and Media specialisms.
This offset “macro volatility” in Australia and the UK.
"We have delivered a resilient trading performance in the quarter and we remain confident in achieving market expectations this year, which reflects the strength of our proposition and our diversified portfolio,” said CEO Zaid Al-Qassab.
“Although the global macro and geopolitical situation remains volatile, we have not seen any significant change in client spending in the quarter.
“We will continue to assess the implications of economic and market events on our clients for the remainder of 2025 while maintaining cost base agility and discipline.
“We remain confident in achieving our ambition of long-term profitable growth and delivering strong sustainable returns for shareholders."
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