Carat-owner Aegis plans to hit 2005 targets despite 'patchy adspend'
LONDON - Aegis Group, owner of Carat, has announced it will be on course to hit targets as it delivered an upbeat trading update ahead of its close period.
According to a statement, Aegis Media, as well as its market research business Synovate, have performed particularly well in Central and Eastern Europe. US marketing spend is also continuing to rise and there has been sustained growth in Isobar, its online business.
Aegis says this performance is in line with the firm's predictions for the year, made at its annual general meeting by chairman Lord Colin Sharman in May, adding that "despite patchy adspend market growth in some European countries, the board expects a satisfactory outcome for the full year".
Synovate is also performing well in the Americas and other areas of success for Aegis Media include Spain, Asia Pacific and the Nordic countries.
The group plans to report its first half-results on September 6, for the first time using International Financial Reporting Standards (IFRS). Aegis acknowledges that the finance charge will be higher than for the same period last year due to a recent acquisition spree.
This has included the purchases of Italian market research outfit AMT, French market research firm ARTeam and Polish digital business Hypermedia, all announced last month.
Aegis's first-quarter results, which were revealed in May, showed a rise in revenues of 12.5%.
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