M&C Saatchi's share price jumps following announcement of record results for 2015
M&C Saatchi’s share price jumped this morning after the company posted record results for 2015.
The advertising giant unveiled record results and hiked its dividend, resulting in its share price soaring.
In the results report M&C Saatchi revealed an operating profits increase of 16 per cent to £18.6m in 2015 while profit before tax grew by 17 per cent to £20.1m, in line with analyst expectations.
In light of the "outstanding progress” the company raised its final dividend by 15 per cent to 5.6p and its full-year dividend, also by 15 per cent, to 7.21p.
Europe and the Americas proved to be the most successful regions with like-for-like revenues up by 19 per cent and 27 per cent respectively.
Chief executive David Kershaw said: "2015 was another year of outstanding progress for M&C Saatchi. Our proven strategy of winning new business and starting new businesses continues to deliver with the group producing record revenue and profits.
"The current strong performance across the global network positions us well for the future. We are confident we will continue to make good progress in 2016 and beyond."
M&C Saatchi has been using its healthy results as a platform for growth. The company recently acquired a 51 per cent stake in digital customer experience agency MCD Partners through its CRM and direct marketing agency Lida and upped its holding in SS+K from 33 per cent to 51 per cent.