Media and communications agency, Aegis, has revealed that trading for the eleven months to November has been in line with expectations, despite slightly weaker than expected growth in some of its European markets.
According to the company’s pre-close trading statement, profits reported to 2005 will include a number of non-trading items as well as £1.6 million of costs associated with the two take-over bids received by Aegis in the second half of the year.
Aegis’s media operations were reported to be performing well, despite continuing tough competition in traditional media planning and buying.
Media operations in North America and Asia Pacific continue to grow well, reflecting both market share gains and market conditions. Performance in Europe was shown to be mixed, with steady progress being made overall.
The company’s research arm, Synovate has demonstrated “excellent growth” over the past year, making progress globally, with particularly good growth in the Americas and Eastern Europe.
Looking towards next year, Aegis is optimistic, saying in a statement: “We expect to make further progress in 2006. We continue to benefit from our focus and strong strategic positions in our markets.”
Aegis has recently been at the centre of industry speculation surrounding possible take-over bids for the company. French entrepreneur, Vincent Bollore, has been steadily raising his stake in the business over the past few months, now holding a 25.05% stake (see Bollore Raises Aegis Stake To Over 25%).
Global advertising agency, WPP, was also reported to be interested in Aegis, but bowed out of the race in late November after Aegis rebuffed its offer (see WPP And Hellman & Freidman To Withdraw From Aegis Bid).
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