Aegis reports 1.1% organic revenue growth
Aegis has reported 1.1% year on year growth in organic revenues for the first quarter of the year.
Growth was driven by a good performance from Aegis Media, which delivered organic growth of 3% in Q1.
| Q3 2009 | Q4 2009 | Q1 2010 | |
|---|---|---|---|
| Aegis Media | -11.8 | -8.0 | 3.0 |
| Synovate | -10.1 | -5.5 | -1.9 |
| Group | -11.1 | -6.9 | 1.1 |
In Europe and North America, performance was mixed with modest growth in France, Italy and the UK, whilst Spain recovered from a relatively low base.
Net new business wins totalled $0.8 billion in the first quarter, including Deutsche Bank and De Agostini internationally and China Telecom in China.
Synovate, saw the trend in quarterly sales orders and revenues continued to improve, with organic revenue down 1.9%, compared to a 5.5% decline in the fourth quarter of 2009.
Jerry Buhlmann, chief executive officer, said: “Aegis produced a solid performance in the first quarter. There were tentative signs of clients starting to increase their marketing and advertising budgets for the second half of 2010.
“Despite on-going uncertainties in the global economic environment, Aegis is well positioned for the coming year with evidence of top-line momentum, a strengthened balance sheet and strong management continuity. Against this background, we continue to forecast modest growth this year.”