Aegis reports 10.8% fall in organic revenues
Aegis has reported a 10.8% year on year fall in underlying organic revenues for the nine months ending 30 September.
However, total group revenues for the period were up 1% on last year.
Organic revenue at the group’s Aegis Media division fell 10.4% year on year, with Synovate, its market research business, reporting an 11.5% fall in organic revenue.
Aegis said that as a result of increased cost savings in the third quarter, one-off costs in the second half will increase to an estimated £16 million – an addition of £6 million to the top end of the £5 million-£10 million range given in its interim results.
John Napier, Aegis chairman and interim chief executive, said: “Our strategy to perform resiliently in a downturn has continued to deliver and we are pleased to confirm further progress in a difficult and challenging market environment.”