Aegis notches up 10% revenue growth for third quarter

By Daniel Farey-Jones, campaignlive.co.uk, Friday, 16 November 2012 12:00PM

Aegis has reported third quarter revenue growth of 10% and continued its track record of outperforming larger groups on organic growth.

Aegis chief executive Jerry Buhlmann

The parent company of Carat and Vizeum updated the stockmarket today, revealing revenue growth for the first nine months of 2012 of 13.3%.

Organic revenue growth was 6.3% in the third quarter, which was better than Publicis Groupe's 2% and WPP's 1.9%.

Publicis was hit by what it called "the brutal and unexpected decline of advertising spendings" in September, but bounced back in October with organic growth of 7%.

In October WPP downgraded its full-year revenue forecast from 3.5% to between 2.5% and 3%, after reporting third quarter revenue growth of 1.6% to £2.5bn.

Aegis, which is less diversified than WPP, did not issue a forecast because of stockmarket regulations governing what it can disclose while in an offer period. It is in the process of being acquired by Japanese advertising group Dentsu.

This article was first published on campaignlive.co.uk