MUMBAI: Aegis Group, which has just sold its Synovate research operations to Ipsos, said its organic revenues grew 7.8 per cent excluding Synovate for the first half of this year. Including Synovate, the company claimed organic revenues rose 7.3 per cent.

The earnings show that media services have boosted Aegis‘ growth, and the company continues to be buyer, not a seller of media shops. It has announced a deal to buy Russia out-of-home media specialist Master Ad.

Aegis said it has spent about $106.4 million on 11 acquisitions so far this year, but said it is mainly focused on "organic growth" and long-term margin improvement from its operations.

"We have continued our focus on targeted acquisitions, extending our capabilities and positioning us in key geographies, all of which leave us well placed for future growth," stated Aegis CEO Jerry Buhlmann, noting that the spin-off of Synovate represents the "largest structural change in the history" of the company.

"Once the sale is completed, Aegis will become a more focused group, with the opportunity to accelerate further the delivery of sustainable, profitable growth, and increased financial flexibility to make targeted acquisitions," he asserted, adding a cautionary "medium term" outlook due to "macro-economic uncertainties," which were also reflected in a revised global ad spending forecast released this morning by Aegis‘ Carat unit.