LONDON (ShareCast) - (Sharecast News) - M&C Saatchi said on Thursday it was on track to meet market expectations for the full year, boosted by a strong first-quarter performance in Europe and the Middle East.
Updating on trading ahead of its annual general meeting, the advertising and marketing firm said underlying net revenues were broadly in line with the last year.

Within that, M&C Saatchi said there had been "continued strength" in the United Arab Emirates and in Europe, as well as in its issues and media divisions.

That helped offset a weaker performance in the UK and Australia, caused by "ongoing macro volatility".

Zaid Al-Qassab, chief executive, said: "We have delivered a resilient trading performance in the quarter, and we remain confident in achieving market expectations for the year, which reflects the strength of our proposition and our diversified portfolio.

"Although the global macro and geopolitical situation remains volatile, we have not seen any significant change in client spending in the quarter."

Analysts currently expect annual net revenues of around £236.6m, organic net revenue growth of 2.6% and operating profits of £37.7m.

As at 1030 BST, shares in the Aim-listed firm were largely flat at 162.1p.

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