The advertising group said business had been stronger than anticipated as the easing of lockdown restrictions sparked signs of a recovery in ad spend.
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It also picked up new assignments from Lexus, Reckitt Benckiser and Sonos.
The revolving facility agreement comes on a three-year term with two optional one-year extensions. It replaces the company’s existing £33m revolving credit facility and £5m overdraft, which were due to expire at the end of this month.
It comes as the iconic ad group attempts to draw a line under a dramatic accounting scandal that began in 2019 and sparked a board overhaul that saw the departure of founders including
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The company will target revenue growth of six per cent and a rise in operating profit of more than 25 per cent by 2025, as well as cost savings of roughly £30m.
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