Aegis has reported an 11.6% fall in organic revenue growth for the first quarter of 2009.
However, the UK media-buying and research group has predicted a “resilient” performance for 2009 overall.
The company said that reported group revenues, which include effects such as a significant exchange-rate benefit, grew by 6.5%, while its Aegis Media division saw a year-on-year fall in organic revenue of 13.1%.
Aegis said that “approximately half” of the organic revenue fall at Aegis Media related to previously announced client losses in the US and the Renault account in Europe, Middle East and Africa. Reported revenues for Aegis Media were up 4.8%.
Aegis’ market research division, Synovate, saw net organic revenues fall of 12% with a 9.1% fall in the equivalent gross figure. Reported gross revenue was up 9.6% year-on-year.
