Aegis Hikes Year-to-Date Revenues by 7.3%

30 October 2008

LONDON: Aegis Group ceo Robert Lerwill (pictured) on Wednesday unveiled bullish numbers for the first nine months of 2008, posting 7.3% revenue growth for the period. As to the remainder of the year, however, he is "more cautious".

Of the conglomerate's two operating groups, Aegis Media (which houses Carat and digital network Isobar) grew revenues by 8.8%; while research unit Synovate increased income by 4.9%.

Growth in the former during the third quarter was "broadly in line" with that in the first half of the year, with most countries in continental Europe achieving double-digit growth in September.

In an interim management statement, Aegis deemed its results for the first nine months of the year to be "healthy".

It added, however: "Current uncertainty in financial markets and the more negative outlook for the global economy make it difficult to forecast accurate levels of client spend for the fourth quarter."

"As a result of this reduced visibility we have become more cautious about the outcome for the full year."

The group stressed that the fourth quarter will be of paramount importance, given that it is traditionally Aegis' "most significant trading period".

Data sourced from; additional content by WARC staff