Synovate Leads Aegis Growth; Fourth 'Non' for Bolloré

Aegis investors today rejected Vincent Bolloré's fourth attempt to seek representation on the firm's board, as the group reported first quarter 2007 revenues up 4.6% (10.8% at constant currencies), led by market research arm Synovate.

Synovate, with growth of 11.6%, outpaced Aegis Media (10.3%) during the quarter. The firm said it expects even better results during the second half of the year, buoyed by its position in digital services and its growth in emerging markets.

Synovate recently launched its sales prediction model, Brand Value Creator, which has already been commissioned for 150 studies, and last month the firm entered into a partnership with online panel provider GMI (www.mrweb.com/drno/news6689.htm ) to gain access to its six million respondents.

'2007 has started well, with strong organic revenue growth in both Synovate and Aegis Media, and we continue to see a healthy outlook for both the market research and advertising markets,' the company commented.

Organic revenue growth, excluding currency movements and the impact of acquisitions, rose to 8.5% in the first quarter. This was helped by strong performances in the Americas and especially China and the Asia-Pacific region.

The statement came ahead of the company's AGM, where today 95% of non-Groupe Bolloré shareholders opposed the proposal of Vincent Bolloré, the company's largest shareholder, to appoint Alcatel boss Philippe Germond and ex-Cannes Lions Chairman Roger Hatchuel to the Board. Aegis had asked shareholders to reject the nominees, as they have done on three previous occasions, amid concern that Bollore's stake in rival ad company Havas would create a conflict of interest.

Colin Sharman, Aegis Chairman said that this outcome was not a surprise and urged Groupe Bolloré to listen to the views of its fellow shareholders: 'Shareholders have seen no change in circumstances to alter their opposition to Board representation for Groupe Bolloré – reflecting the importance they attach to keeping the Aegis Board completely independent of a competitor. We thank shareholders for their continued support.'

Shares in Aegis rose 1% to 147p in early trading. Aegis will release a pre-close trading statement in June and will announce interim results for the six months to June 30 on September 6. Aegis and Synovate are on the net at www.aegisplc.com and www.synovate.com , while Group Bolloré is online at www.bollore.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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