Second profit warning pushes M&C Saatchi shares into free fall
The company — founded by Maurice and Charles Saatchi after they were ousted from Saatchi & Saatchi — had initiated an internal accounting review of UK units in August
04 December 2019 - 18:20
Bengaluru — Shares in M&C Saatchi plunged by about half in value on Wednesday after the advertising agency issued its second profit warning in less than three months, due to an accounting scandal.
The accounting review related to several units in the company’s UK business overstating income and receivables, among others, and M&C said it would restructure its UK operations...
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