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Synovate Success Gives Aegis Happy New Year
Marketing services group Aegis, owner of Synovate, revealed yesterday that dealing with two failed takeover bids earlier this year has cost it £1.6m. Despite these costs - and a decline in ad spend - it predicts that financial results will meet expectations, thanks in part to Synovate's 'excellent organic growth'.
In a pre-close trading statement, the Group says that, after eleven months of trading in 2005, underlying results remain in line with expectations, in spite of a decline in ad spend in many European markets and strong price competition in traditional media.
The statement says that Synovate is making progress globally, with particularly good growth in the Americas and Eastern Europe.
Looking ahead to 2006, Aegis says it expects to 'continue to benefit from our focus and strong strategic positions, allied to solid market prospects and the full year effect of the acquisitions made in 2005'.
Preliminary results for the full year will be released in March. Aegis is online at www.aegisplc.com.
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