Aegis Group results in line with expectations

Marketing services group Aegis Group, owner of Carat, Isobar and Synovate, has reported total group revenues up 1% for the first nine months of the year on the same period in 2008.

Aegis

The company made forecasts in August when it placed interim results that it would not see any upturn in the second half and that full-year underlying profit would be in line with market expectations.

It has been carrying out a cost reduction programme throughout the year.

The results include the business of Synovate and Aegis Media. The latter has recorded year-to-date net new business wins of $2.4 million, including Kellogg’s, Beiresdorf and Nokia.

Taking account of the effects of currency movements and acquisitions, group organic revenue dropped 10.8% year on year. The split was 10.4% at Aegis Media and 11.5% at Synovate.

Full group revenues for the nine months were £36.7m. Chairman and interim CEO John Napier says: “Our strategy to perform resiliently in a downturn has continued to deliver and we are pleased to confirm further progress in a difficult and challenging market environment.”

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