Media and communications company, Aegis, has distanced itself from industry speculation that its recent string of acquisitions will result in higher than expected profits for 2006.
According to a report in the
Independent this morning, Aegis’s 2006 earnings are likely to be “substantially” higher than current market forecasts, due to the 25 small companies that it has bought over the last 12 months.
However, the group said in a statement: “Aegis clarifies that it was not the source of the comments made as to the level of future profits. While acknowledging that acquisitions made in 2005 will contribute to the company’s performance for a full year in 2005, it neither confirms nor denies that the level of profits may exceed any previous reported period.”
The latest business bought by Aegis was Hungary’s leading digital agency, Kirowski RT, for £10 million, strengthening the Group’s digital network, Isobar (see Aegis Extends Digital Reach In Europe).
Aegis is currently embroiled in industry speculation surrounding a possible take-over bid, with French entrepreneur and Havas chief executive, Vincent Bollore, increasing his stake in Aegis over recent weeks, raising it from 9% to 14.06% (see Bollore Pushes Aegis Stake To 13.35%).
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