Ipsos sees first half revenues drop despite second quarter rise

H1 saw a 4% drop in revenues at €803.7m compared with €837m the previous year, although revenues grew 0.4% (on a constant currency basis) in the second quarter of the year after a 2.7% (also constant currency) decline in Q1.

Despite improved circumstances in EMEA and the Americas, the regions still saw a revenue decline. Asia Pacific was down 9.5%, EMEA by 3.1% and the Americas 2.5%.

Conditions remain tough for the opinion and social research division with a drop of 13.2% in revenues to €70m followed by media research with an 8.4% decline at €79.2m. Marketing research saw a 1.7% drop to €420.2m for the first half of 2013.

Presenting the figures, Ipsos deputy CEO and group CFO Laurence Stoclet wrote: “Overall, Ipsos should resume organic growth, despite the uncertain macroeconomic situation and constrained market with our performance gradually each quarter.”

In the financial report, Ipsos also noted the suit filed in London against Aegis over the sale of Synovate.

Ipsos accused Aegis Group of inflating profits and failing to disclose tax and fraud probes at Synovate prior to its purchase by Ipsos in 2011. In addition, the suit, filed in April, accuses Aegis of not paying share bonuses to Synovate staff in order to “artificially inflate” profits and of giving a misleading account of customer contracts.

Stoclet wrote: “Ipsos is not a company that thrives on litigation. We simply want to make sure the company’s rights and interests are respected.”

Aegis has refuted the allegations in its own court filings.