Synovate posts third-quarter double-digit revenue rise

Gross organic revenue was up 11.5% for Q3 and 5.7% for the first nine months of the year, while net organic revenue rose 10.9% for the quarter and 5.3% for the year to date.

Sales were also up 4.2% on 2009 and Aegis said that going into the fourth quarter orders on hand were 4.2% up on last year.

Aegis said that Synovate “continued to perform well” in Asia Pacific, Africa and Eastern Europe, and its North American business delivered “strong sales and revenue growth” in a “competitive” market.

In Western Europe, however, the “challenging micro-economic environment throughout the region continued to impact the performances of a number of our businesses there”.

Group-wide, Aegis saw third-quarter revenue rise 9.7% compared to last year, and the year-to-date figure was up 5.2% on 2009’s results.

Chief executive officer Jerry Buhlmann (pictured) said: “Aegis produced a strong performance in the third quarter of 2010, with continued improvement in organic revenue growth at both Aegis Media and Synovate. Although we expect a moderation in organic revenue growth rate in the fourth quarter, our full-year guidance for group organic growth is unchanged. We remain on track to deliver 2010 group underlying operating profit in line with current market consensus.”