Aegis profits rise 8.3 per cent in first half of 2010

The owner of Carat, Vizeum, Synovate and Posterscope reported a 4.2 per cent rise in revenue to US$1.028 billion (GBP663.3m).

Buhlmann, who took over from interim chief executive and chairman John Napier, said, "We produced a strong performance during the first half of 2010, confirming our expectations of a return to growth.

"This was driven by good performances from our businesses in faster-growing regions, Synovate's return to profitability and strong net new business wins totalling US$1 billion of billings from Aegis Media."

The rise in profits came as research arm Synovate bounced back from making a loss in the first half of 2009, when Aegis spent US$24.3 million (GBP15.7m) on restructuring costs, as it sought to cope with the financial downturn. There were no such costs this year.

Aegis said it planned to build on growth in the Aegis Media division by increasing exposure to faster-growing regions and broadening its geographic reach to target more international clients.

Aegis had been without a group chief executive for a year and a half after the departure of Robert Lerwill.

Amounts based on the USD/ GBP exchange rate on 30 September.