New Business Wins Spur On Revenues At Aegis
Global market research group, Aegis, has today unveiled that revenues for the first six months of 2004 have grown by 15% to just under £339 million, spurred by a recovery in Europe and stronger than expected new business wins.
Pre-tax profits from January to June grew to £294.5 million as a result of the ‘global brand strategy adopted over the past few years, which has enabled each of Aegis’ businesses to be clearly differentiated in their markets and to win more than their share of new business’.
In media, Aegis won nearly $1.2 billion of net new business billings in the first half of 2004, compared with just over $0.5 billion in the same period last year, while its Spanish operation, Synovate, also ended the period with an order book substantially ahead of June 2003.
Chief executive, Doug Flynn said: “The group performed well with last year’s record performance driving the momentum into the first half of 2004. This is the result both of the strength of our businesses as well as improving economic conditions.
He added: “Our media businesses are winning significantly more than their share of new business and Synovate is carrying forward a comfortably higher order book than at the same stage last year. I am confident Aegis will deliver another good performance for the full year.”
Revenues at Aegis Media, the platform for managing and supporting all of its client-facing media brands including; Carat, Vizeum, Isobar and Posterscope, grew to £216.1 million, up 7.4% year-on-year.
The statement issued this morning said: “Both Carat and Vizeum contributed to this success – Carat most notably with the important win of Procter & Gamble’s US communication planning business and Vizeum with European multi-national accounts wins from Heinz and Kia.”
Revenue at the group’s market research network, Synovate, grew by 31.4% to £122.8 million from £93.5 million in the same period of 2003, as the operation continued to develop its global operations and win business from some of the world’s largest corporations, said the statement.
The group’s outlook for the remainder of 2004 was positive as the statement said: “Global advertising spend is expected to show continued improvement with full year forecasts for 2004 at 5.7% being slightly more favourable than predicted six months ago. Although the prospects for 2005 are less certain, the recent pattern of growth is expected to continue.
It added: “Given the strength of the company’s position and the improving market conditions, the board is optimistic that the prospects for the business are brighter than they have been for some time and believe that the company will deliver a strong performance for the second half of 2004 and beyond.”
Aegis Group: 020 7070 7700 www.aegisplc.com
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