I wonder what the M&C Saatchi (SAA) Christmas party will be like this year? Judging by today's regulatory news update, I would be tempted to cancel it – if it was going ahead in the first place. You may recall that I have written twice about the advertising company - most recently here back in September - talking about its slow car crash involving both an accounting scandal and depressed profits. Today's update provides clarity on the former, but provides another slice of trading gloom. And the shares? Down 40% from already depressed levels as I write. It is going to have to work hard to advertise this positively...
Those of you with an interest - or recollection - of late 1970s UK political advertising will understand the allusion made in the title. The reality is however that M&C Saatchi (SAA) has just come out with a downright worrisome statement which even its spinning and marketing skills are going to have to work overtime to counter...
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