Ad woes | Frontier falls | Electrical excellence
News covered here, includes excellent results from a fast-growing online electrical retailer, a rare positive from the post-lockdown online world. Elsewhere, a previously popular video games developer continues to struggle and we wonder whether its business model can ever deliver for shareholders. Read on below for this and other news. (Free to read)
Saatchi: shares dive on weaker outlook and always confusing Advertising group M&C Saatchi (AIM:SAA) issued a disappointing update on trading which saw its shares fall back sharply. The more challenging trading environment referred to previously has continued and impacted the pace of business into the second quarter, particularly in the Advertising and Media specialisms. The Group’s Passions (an interesting term!), Consultancy and Issues specialisms continuing to perform strongly. Management now expects a small decline in like-for-like net revenue for the full year but remains confident in delivering year-on-year ‘Headline’ profit growth and Headline operating margin improvement – for ‘Headline’ read…