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Tuesday, 02 September 2014

Ipsos slams Europe's political failings for constraining growth

FRANCE — Global market research company Ipsos has slammed the ongoing lacklustre political response to the Eurozone’s troubles in its full-year results.

As the company reported a rise in profits, Ipsos said that there was little sign of improvement in the troubled region thanks to the “lack of political response to the social crisis unfolding”.

Ipsos said that pro-Europeans were sheltering under the umbrella of necessary austerity without understanding the majority’s concern about the gradual erosion of social benefits.

“Even a child can understand that Ireland’s recovery does not mean that it is now game over, and that extrapolating the lessons of renewal from a tax haven of five million inhabitants to the more populous nations of the Eurozone, makes no sense,” the report said.

It added: “Europe is sick and getting sicker and will drag other economies down with it.”

Ipsos’s frustration with Europe is evident in its results where despite a 31.3% increase in revenues over the year to €1.8bn, “several wrong turns” in Europe and uncertainty in the US “strained economic growth prospects and, hence, the business climate” causing a 1% decline in Q4 2012 revenues compared with Q4 2011.

Operating profit was €178.5m, a 11.4% increase while adjusted net profit was €118.5m, a 2.7% rise on the previous year.

Marketing research saw the biggest rise in revenue for the company, up 40.1% on the previous year at €947.9m while customer relationship/management research saw 37.6% growth to €231.5m. Advertising research was up 9.9% to €283.9m.

 

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Readers' comments (2)

  • Absolutely right! Businesses all over Europe are suffering as a result of the failed EU policies. The problems need radical solutions including suspending all these stupid EU directives that hurt business, crush business and personal taxation, abolish the EU in favour of nation state democracy, and return Europe to a free trading block with market access and freedom of movement for economic benefit not political ends.

    What does the EU do? At a time when business is hurting they bring in more regulations and more taxes! Unbelievable.

    All over Europe people are starting to see the EU for what it really is, an undemocratic alliance of champagne socialists who dream of a socialist superstate and could not care less about the economic consequences for EU citizens.

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  • European policies are certainly failed, but these are not the main reason that Ipsos has to report poor results ... they bought Synovate, a company in distress, for a too high valuation and now have to pay the price for that. WPP is blaming Europe as well for lacklustre growth. Only GfK, headquartered in the hearth of Europe, seems to be doing well.

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