Aegis Group enjoyed organic revenue growth of 7.3% for the first nine months of the year, according to a trading update released today.
Organic revenue growth at Aegis Media for the first nine months was 8.8%, with Aegis Media UK seeing a small organic revenue decline in September. Aegis said that this reflected in part the phasing of client spending through the year.
Aegis said: “Overall, results for the first nine months of the year have been healthy. In normal circumstances we would expect this to underpin good progress at constant currency for the full year.
“However, current uncertainty in financial markets and the more negative outlook for the global economy make it difficult to forecast accurate levels of client spend for the fourth quarter. This is our most significant trading period, with seasonally higher advertising volumes, project close-outs and determination of performance-related incentives.
“As a result of this reduced visibility, we have become more cautious about the outcome for the full year. Nonetheless, the strength of the Euro and the US dollar in relation to sterling will benefit our reported results and we are continuing to manage our cost base tightly.”
Aegis yesterday announced the takeover of Malaysian digital agency IF for an undisclosed amount (see Aegis Acquires Malaysian Digital Agency).
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