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

2 hours ago

Creative Minds: Yuchien Wang on the path from ...

The copywriter and brand strategist had originally set out to be a classically trained cellist, even winning a place at the music academy in Taipei. But copywriting eventually won her heart.

4 hours ago

Spotify encourages investment in video with Wrapped ...

Advertisers that invested in video on Spotify saw a 59% increase in reach and a 33% incremental lift in conversion rates.

4 hours ago

Edelman staff cuts reflect an industry at a crossroads

PR is at an inflection point where it is considered a senior adviser to CEOs and the C-suite, but is now being held to account for this increased responsibility. Tough decisions are required

5 hours ago

Publicis recruits Snoop Dogg to celebrate becoming ...

The rap star joined Publicis Groupe chairman and CEO Arthur Sadoun in annual 'Wishes' film.