Ad recovery is boost for Aegis

first_img Marketing group Aegis beat forecasts yesterday despite suffering a £25m exceptional charge on the threat of bad debts from a Spanish former client.The debt provision pushed its pre-tax profits down 25 per cent from £91.2m to £68m but chief executive Jerry Buhlmann told City A.M. his firm had taken a “very prudent” view on this, with the firm still working to recover the money.Organic revenue grew 5.8 per cent year-on-year to £1.45bn, with underlying pre-tax profits up seven per cent to £162m.The strong results followed a rebound in advertising markets in the second half of the year.Buhlmann said the business performed particularly well in the US and Asia. The firm has increased its operations in Asia with the recent acquisitions of Australian marketing group Mitchell and Chinese media agency Charm Communications.It has also expanded its presence in Russia and China.Buhlmann said he is “upbeat” about the outlook for 2011, saying he is confident the forward momentum will continue. It increased its dividend 10 per cent to 2.75p.The results followed similar improvements at other global ad groups such as WPP, Omnicom and Publicis, which all reported strong ends to the year due to growth in the US and emerging markets.FAST FACTS | AEGISOperating profit was up 12.9 per cent to £192m, but pre-tax profit fell 25 per cent to £68m.The group, which has expanded in emerging markets, says its outlook for 2011 is positive and raised its dividend 10 per cent to 2.75p. Tags: NULL whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld Lifestyle Ad recovery is boost for Aegis whatsappcenter_img Thursday 17 March 2011 8:51 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Show Comments ▼ KCS-content Sharelast_img read more

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