International media buying and market research specialist Aegis Group, holding company for the Carat network, has pronounced the European media market to be ‘stable’ – although its sees no sign of recovery as yet.

But Aegis chairman Lord Sharman told shareholders that the group detected “some small signs of recovery among advertisers” in North America

There had also been a “modest improvement” in market research revenues. In the face of “difficult market conditions”, the group has won sufficient new business to maintain reasonable organic growth.

Sharman said he remained cautiously optimistic about future prospects and expected a “satisfactory year” in 2002.

Data sourced from: The Times (London); additional content by WARC staff