Complications | Investor patience needed
Results and updates from AIM companies covered here include some unusual complications while the remuneration of a senior executive at another looks somewhat excessive to us, at least relative to the real returns of the business, unfortunately that’s often the way with smaller companies!
M&C Saatchi: recovery continues, but it’s a tough one to understand Advertising and communications group M&C Saatchi (AIM:SAA) issued a reassuring trading update for its year ending 31 December 2022, although it also served to highlight the complexities of this business. Net revenue (which isn't the statutory revenue and excludes direct costs) is expected to have climbed 9% to £271m, with a strong performance from its higher growth specialisms (which grew 17%) and in the UK and Americas. ‘Headline’ profit before tax, which no doubt excludes a heap of costs that management would like us to ignore, is expected to…