Aegis looks for second-half improvement

Advertising group Aegis today reported "modest growth" with a 1.1% rise in like-for-like revenues in the first three months of 2010, in line with expectations.

Advertising division Aegis Media had a 3% increase but research arm Synovate fell 1.9%.

"There were tentative signs of clients starting to increase their marketing and advertising budgets for the second half of 2010," chief executive Jerry Buhlmann said.

"Against this background, we continue to forecast modest growth this year."

Total net new business wins in the first quarter were $800 million (£552 million), including Deutsche Bank and De Agostini internationally and China Telecom in China, and remained healthy going into the second quarter.