Jennifer Whitehead
Aug 30, 2010

Aegis profits rise 8.3 per cent in first half of 2010

GLOBAL - Aegis has seen pre-tax profits rise by more than 8 per cent for the first half of the year to US$74.8 million (GBP48.3m) in the first set of results published by the media and research group since Jerry Buhlmann took over as chief executive in May.

Aegis chief executive Jerry Buhlmann
Aegis chief executive Jerry Buhlmann

The owner of Carat, Vizeum, Synovate and Posterscope reported a 4.2 per cent rise in revenue to US$1.028 billion (GBP663.3m).

Buhlmann, who took over from interim chief executive and chairman John Napier, said, "We produced a strong performance during the first half of 2010, confirming our expectations of a return to growth.

"This was driven by good performances from our businesses in faster-growing regions, Synovate's return to profitability and strong net new business wins totalling US$1 billion of billings from Aegis Media."

The rise in profits came as research arm Synovate bounced back from making a loss in the first half of 2009, when Aegis spent US$24.3 million (GBP15.7m) on restructuring costs, as it sought to cope with the financial downturn. There were no such costs this year.

Aegis said it planned to build on growth in the Aegis Media division by increasing exposure to faster-growing regions and broadening its geographic reach to target more international clients.

Aegis had been without a group chief executive for a year and a half after the departure of Robert Lerwill.

Amounts based on the USD/ GBP exchange rate on 30 September.

Source:
Campaign Asia

Related Articles

Just Published

5 hours ago

Omnicom agrees to buy Interpublic in deal to create ...

Agencies hail their “complementary” assets and cultures.

10 hours ago

Omnicom’s Interpublic ambition: A deal that could ...

"This is more about cost synergies than revenue growth," argues Campaign columnist Ian Whittaker. As Omnicom targets Interpublic, is this deal a revolution or a recalibration?

15 hours ago

The 12-minute window to CTV’s goldmine

The fight for CTV inventory is fierce, but the most valuable ad space isn't where you think it is. Ramakrishnan Raja says that CMOs must master how to leverage the 12-minute discovery window for maximum impact.