Aegis Reports Increase In Profits For First Half Of 2008

Aegis has reported an increase in underlying pre-tax profit of 15.4% to £56.2 million in the first half of the year.

The UK media buying group reported a 13.7% increase in revenue on the same period last year to £607.6 million on a constant currency basis, beating analyst forecasts.

The group posted organic revenue growth of 8.2% for the six months ending June 30, while underlying operating profit grew 16.7% on a constant currency basis to £65 million.

Aegis Media saw 29% of its revenue come from digital operations, up from 26% in 2007.

Robert Lerwill, Aegis chief executive, said: “”We achieved these results despite a trading environment that is becoming tougher – with signs of slowing demand, particularly in Spain, the US and the UK.

“Consequently our revenue outlook for the second half of 2008 is less certain.”

Aegis: www.aegisplc.com/