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.