Aegis outperforms the market with 11.5% revenue growth
Aegis Media has revealed a 11.5% rise in its third quarter revenue, as its business in North America gained momentum.
The UK media buying group, parent company to agencies Carat, Glue Isobar, iProspect and Vizeum, reported organic growth, which excludes acquisitions and divestitures, of 11.5% year-on-year, and 8.9% during the first nine months of the year.
Despite the strong growth, the group remains cautious while “visibility remains relatively low and macro uncertainties remain.”
According to Jerry Buhlmann, chief executive at Aegis Group, the business will continue to focus on acquisitions in the digital sector particularly in North America and emerging markets, such as China, Russia and Brazil.
“Our strong organic revenue growth performance in the third-quarter of 2011 was driven by excellent operational results from our businesses in North America. However, parts of Western Europe continue to be challenging,” he adds.
The company adds that UK, Germany, Scandanavia and Netherlands all delivered “strong” performances in the third quarter. While France produced a “challenging” quarter.
In October, the company completed the sale of its market research division Synovate to Ipsos for £528.8 million, marking the biggest structural change in the media buying company’s history.
The retained funds – perhaps as much as £300m – will be used for future acquisitions.
