Aegis new business record boosts H1 profits

MUMBAI: Media, market research and digital advertising group Aegis has posted a record amount of new business in the first half of the year, due to contract wins from sports equipment giant Adidas-Reebok and the Abbey National bank.

The company, being stalked by Havas chairman and largest shareholder Vincent Bolloré, notched ?685 million ($1.3bn; €1.01bn) in new business, while pre-tax profit rose 8.9 per cent to ?38m, states an official release.

Organic revenue growth increased 7.2 per cent, beyond analysts' expectations of around 6 per cent, fuelled by the rapid rise in online advertising. The figures put the group at the top end of the industry growth league table, adds the release.

Aegis, which owns the Carat media buying network, market research firm Synovate and digital agency Isobar, said in a statement, "Our strategy of putting digital marketing services and communications planning at the heart of Aegis Media is delivering clear benefits to our clients."

Isobar showed organic revenue growth of 30 per cent in H1 and accounts for 19 per cent of its parent company's income.

The group says it is trading in line with expectations and is set to make most of its profit in the second-half due to the increasingly seasonal nature of its business.

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories