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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Aegis Grp. | AGS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 239.80 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 239.80 | 239.80 |
| Top Posts |
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Posted at 20/3/2009 14:58 by sharw Yes - good results but the mood of the market at the moment is to decimate the price of a company with bad results and leave that of a company with good results where it is.I thought the webcast was good and the new chairman/acting CE was more candid than average. Although the Q&A session was long it was worth listening to. It is still available on: Meanwhile Tempus in the Times comments: |
Posted at 21/9/2007 11:17 by le mass du pap from Investor Ease20.09.07 :-1, (120.5) Bear Stearns has upgraded Aegis Group PLC to 'outperform' from 'peer perform' on valuation grounds. In a note published today, the broker said it believes the stock's valuation has reached a 'compelling' level, as it set a 160 pence price target, implying 32% potential upside from current levels. The broker noted Aegis' business model is focused on the best growth areas in advertising and marketing services, adding that it expected Aegis' industry-leading revenue growth to continue to reflect this. Noting the company's 9.6% organic growth rate in H1, the broker said it estimates 8.8% for the full year, although it said it feels even this could prove to be low. Looking to the future, Bear Stearns said it expects earnings to improve in the second half of 2007 after a first half marked by investments and timing of market research, adding that it believes Aegis will continue to invest in its business to drive sustainable growth. The broker said although it does not expect Vincent Bollore -- who owns a 29% stake in Aegis -- to launch a bid for the company any time soon, his stake is likely providing a floor for the stock but has also created a ceiling. Bear Stearns said it believes a buyout of Aegis is likely at some point, either by Bollore or someone else. Valuing the stock at 162 pence on a sum-of-the-parts basis, the broker added that risks include further mergers and acquisition market weakness -- deflating hopes of an Aegis acquisition -- macro slowdown concerns and possible flattish margins as Aegis continues to invest. -------------------- |
Posted at 06/9/2007 23:29 by nigel_man By Jessica HodgsonOf DOW JONES NEWSWIRES .........Speaking on CNBC early Thursday Lerwill said that despite the currency impact, "what really matters is our underlying constant currency." Aegis revised its global advertising forecasts for 2007 to 5.3%, down from a previous 5.8%, on the back of what Lerwill described as "a little bit of softening in the U.S.", but said that it expected global advertising growth of 6% in 2008 due to the Beijing Olympics and the U.S. Presidential elections. Commenting on the results in early research Thursday Societe Generale noted the "blistering" organic revenue growth. UBS, which has a buy rating on the stock, said it believed that the market would "look beyond" the net profit figure and focus instead on strong organic revenue growth. Both of Aegis' two key business units, Aegis Media, which includes all of its media planning activities, and market research group Synovate, reported organic revenue growth of over 9% in the first half, Aegis said. It said it expected this outperformance to continue in the second half, and said it hoped to maintain Aegis' margin despite significant investment. Aegis forecasts industry advertising revenue growth of 4% for the U.S. in 2007, 5.3% industry growth on a global basis and 20% growth in China. At its half year results in August, WPP Group PLC (WPPGY), said analysts were expecting full year organic revenue growth of between 5% and 6%. Omnicom Group ( OMC), the world's largest advertising agency, earlier reported first half organic revenue growth of 7.4%, while Publicis reported organic revenue growth for the half year of just 1.6%. Commenting on the booming growth in Internet advertising - which in the U.K. grew at 47% in 2006, according to figures from telecommunications regulator Ofcom - Lerwill said there wasn't any evidence that growth would slow soon. The past six months has seen a wave of consolidation in the Internet advertising and marketing sector. Aegis' industry peers such as WPP and Publicis Groupe (PUB), alongside technology giants such as Google Inc. (GOOG), Microsoft (MSFT) and Yahoo! Inc. (YHOO), have all made recent large acquisitions to gain exposure to the market. Lerwill said Aegis, which has been operating in the Internet space for several years, had been acquiring companies in a "careful, measured way," and didn't believe Aegis had lost any competitive advantage by failing to make big acquisitions. The company is nearly 30% owned by Vincent Bollore, the French industrialist who is also a controlling stockholder and Chairman of Havas S.A. (12188.FR), a French advertising group which owns the Euro RSCG advertising firm. Bollore, who first began buying shares in Aegis in 2005, has made repeated attempts to secure board-level representation at Aegis but has been rebuffed numerous times by institutional investors at the recommendation of Aegis' management. Lerwill said there had been no significant change in the relationship with Bollore, with whom Aegis had "agreed to disagree," but added that the company had offered Bollore's represenatives the opportunity to discuss Aegis' operational performance in a few weeks. A spokesman for Bollore Group Thursday said Bollore was "disappointed," with Aegis's net profit, without elaborating further. An Aegis spokesman said in a statement: "The true measure of our success is our underlying earnings per share, which is up 12% at constant currencies." "We've reported organic growth today that is better than any of our competitors. Our business is very healthy and our prospects our good." |
Posted at 06/8/2007 20:36 by le mass du pap Seen lots of auction prices on the offer but nothing usually comes of it. At present it depends on the state of the market so you are probably right about a possible 130p test tomorrow if the Dow can hold up... during benign periods like this it just follows the major indices anyway. Trouble is that at these ludicrous levels every man and his dog will want to trade it for a few points knowing the inevitable rise to the mid thirties/early forties prior to results is a given. So progress may not be as steep as it could be as the punters bail out along the way. That said, a nice 5% rise would get us back on track. Hopefully a decent set of results may knock some sense into a few people and give respect to the high P/E, which in terms of the sector is nothing extreme by any measure. My mind is now on those results and the forward statement and a possible bid by Bollore's crowd.... as well placed aquisitions, huge contracts and a successful business don't seem to be enough to bring in the investors. |
Posted at 27/1/2006 14:17 by sharw Comment in today's Guardian:Away from the blue chips, Aegis, the media buying group in which financier Vincent Bolloré has built a 25.5% stake, rose 5p to 128.5p after Deutsche Bank upgraded its rating on the stock to buy. The German broker suggested earnings could beat current forecasts if Aegis's management improves its operating performance. The Indie has a lengthier article which concludes: "Deutsche believes the shares can hit 145p on their own accord and believes a predator will have to pay up to 168p if it is to win the company. Investors would do well to add the stock to their portfolio". Full article (but be quick before subscription-only shutters come down): |
Posted at 06/1/2005 07:36 by maut too 5.01.05 :+0, (107.75) announces that 2004 global adspend progress is ahead of expectations with European growth boosting the trend. Doug Flynn, CEO of Aegis Group, Carat's parent company, said: "2004 ended with a better than expected 6% growth in global adspend helped by the continued recovery in the European markets. The one-off impact of the Quadrennial Effect - additional spend generated by major sports and political events - provided a fillip to global adspend in 2004 and we see 2005 growth settling at 4.9% with advertisers' confidence stable and the market looking firm." Carat expects the upturn in global advertising expenditure to reach 6% for 2004. This is slightly higher than its September forecast of 5.7% growth. The upward revision is mainly attributable to the European recovery, which is accelerating in a number of countries. The robust growth predicted in the USA and Asia-Pacific is now confirmed. The global recovery is now solid, with good macro-economic drivers. The consensus is that the world economy should achieve over 4% GDP growth in 2004. Economic growth slowed in the second half of the year, but advertising remained largely unaffected, and growth rates are back to the pre-recession levels of 1999. Carat's forecast for 2005 global advertising expenditure growth is 4.9%, broadly in line with its September forecast of 5.0% growth. Potential causes for concern in 2005 relate to the price of oil, the weakness of the dollar and the US current account deficit but so far the market outlook remains healthy. Carat has no indication of advertisers significantly cutting down on their media expenditure. The strong rise in internet advertising is continuing; growth is predicted to reach around 20% in 2004 and 2005. The internet's share of global adspend is currently 3%, but this is expected to increase substantially in the next few years as the medium becomes an essential part of the marketers' armoury. The outdoor sector continues to perform very steadily; the consolidation of the industry and emergence of new formats are driving the medium's growth. Outdoor is least impacted by the fragmentation of media and the move towards digital delivery should boost the sector. The company anticipate that the strongest area of competition in the next few years will be the growth of in-store digital delivery. USA: Strong 2004, steady 2005 Economic outlook still in the direction of slowing growth and fewer job gains. Third quarter improved with a 3.7% GDP increase, but consumer confidence declined in November for the 4th consecutive month; corporate profits were softer in the 3rd quarter. More positive, personal consumption increased by 5.1% in the third quarter. In terms of advertising expenditure, most media segments enjoyed a good year, with five out of 16 measured media experiencing double-digit growth during the first nine months of 2004. Advertisers' budgets continue to rise, and only two of the top 10 categories saw a decline in 2004 (restaurants and hotels, department stores). Advertisers remain committed to broadcast television and there has been strong demand across all categories with record-level spending across all broadcast outlets and not much discounting. Political spending (estimated spending $1.6bn) boosted national spot television, which is expected to increase by 8% in 2004. Key spot TV advertisers continue to spend and hold the marketplace, with the biggest categories being automotive, entertainment and retail. For 2005, TV owners remain optimistic, but without political advertising and with cable continuing to pick up share, stations will negotiate harder for business. Stations are not discounting per se, but are willing to run added value and bonus weight to hold on to business and increase shares. Outdoor continues its steady growth, pushed by political and sport advertising and is expected to grow by 5% in 2004. Newspapers are expected to grow by 6.4% in 2004, led by a resurgence of automotive spending and continued strong spending by wireless communications. Internet spending remains buoyant, boosted not only by new advertisers, but also by existing advertisers increasing their spend. Europe - Growth rates almost back to pre-recession levels The trend is still led by the UK, Italy and Spain. The Nordics are also showing a return to good growth. France had a very good first half of the year, with a softer second half. The German market remains fragile, but the outlook for 2005 suggests a return to growth. UK UK GDP now predicted to grow by 3.2% in 2004 and 2.8% in 2005. Consumer spending is expected to slow from 3.1% growth in 2004 to 2% in 2005. Housing market will remain soft in 2005, with very little or no growth Business investment remains healthy - at 5.9% higher than during the first nine months of 2003. Marketing budgets were revised up in Q3 for the fourth consecutive quarter. Rising profits and robust business sentiment has encouraged advertisers to further boost their expenditure in each of the first three quarters of 2004. This recent period of upward revision is the longest continual period of improvement since the beginning of 2000. Television grew particularly fast in the second half of the year (+5.9% forecast for the year), together with online advertising; outdoor slowed a little with a quiet fourth quarter (+7% forecast for the full year). Germany Strength gained in Q1, 2004 lost momentum in Q3, due to declining exports. GDP now expected to grow by about 1% in 2004, but should gather pace in 2005, when tax reforms and improved job market will help boost private consumption. Budget deficit will reach 3.8% of GDP in 2004 - violating EU Stability Pact for the 4th consecutive year. The sluggish economy and lack of private consumption are still weighing on the advertising market, with the prospect of a return to growth pushed back to 2005. The main driver of spend in 2004 was the retail sector, and particularly food discounters. The TV sector created growth at ratecard costs, but with very little 'real money' behind it. Outdoor continued to grow, but at a moderate pace. Online remains the fastest growing sector. France GDP growth for 2004 is expected to be around 2.4% After a strong growth in the first half of the year, private consumption has slowed. Corporate investment continues to rise at a rate of 4% in the second half, but private investment in housing is weakening. End 04 and early 05 should be softer, as a consequence of the newly introduced Inflation Control Law (large retailers and manufacturers have agreed a 2% decrease in prices by September 04, and a further 1% by January 05). The advertising market experienced good growth in the first nine months of 2004 - +10.1% at ratecard costs - but an increase in discounts will minimize the trend of the net market for the full year. Television is still benefiting from the short term attitude of advertisers and is doing well. It is also boosted by the new regulations introduced at the beginning of 2004 allowing the press sector to advertise on television (advertising for publishing and distribution products has also been allowed, but only on cable and satellite television). Press continues to grow moderately and the restructured Outdoor industry is expected to recover this year. Italy GDP is expected to grow by 1.3% in 2004 and 1.8% for the next two years Consumer Confidence is increasing, and is now almost back to late 2003 levels. Italy is expected to continue recovering in 2005; internal demand is growing and the recovery of private consumption should sustain the trend The advertising market continues to perform very well; the first half of 2004 was exceptionally good. The trend slowed down a little in the second half of the year, but the market is still expected to close at 6.5% growth. The main drivers of growth remain telecommunications, automotive, finance, retail and media. The good performance of television led to a decrease in discounts and overbooking - the medium finished 2004 at 8.3% Spain Growth could be slowing a little - GDP is now expected to grow by 2.6% in 2004 and 2.8% in 2005. Spain's competitiveness is being affected by its inflation gap with the rest of the EU zone (3.1% vs 2.1%) and the recent increase in interest rates could slow private consumption. On the positive side, the Spanish financial market, consumer investment and real estate industry continue to perform well. Advertising expenditure continues to grow; the second half of 2004 has been a little less buoyant than the first half, but the year should finish around 5% with big advertisers still increasing expenditure. Television (10%) and Internet (12%) remain the two fastest growing media; outdoor is the third fastest growing medium and cinema is the only medium to decrease. Central and Eastern Europe CEE countries showed strong growth in 2004, with most countries growing faster than their West European counterparts; the countries joining the EU in 2004 - especially Poland, Czech Republic and Baltics - did particularly well . Japan Although the growth rate has cooled down in the second half of the year, the economy is still showing a stable growth with GDP expected to grow by 2% in 2004. Business investment and consumer spending are increasing, but still slowly. Private property prices are stable. Advertising expenditure forecast to grow by 2.2% in 2004, largely as a result of the Olympic Games. Spend is still expected to rise in 2005, but only marginally. The largest increase was in online spending, which has overtaken radio as the fourth biggest medium in terms of gross spending. China The economy is boosted by increased government spending, strong exports, WTO and increased foreign investments and is expected to grow by over 8% in 2004 and 2005. The regulatory measures adopted by the government to avoid overheating have not affected the confidence of foreign investors with a 13% increase in the number of foreign-funded companies approved in 2004. Disposable income per capita is up by 7% over 2003, with spending per capita up by 6.5% in real terms. Advertising expenditure continues to grow strongly, boosted by foreign investment and to a lesser extent by this year's sporting events. The government's new TV regulations are boosting the medium significantly, but the increased cost of TV seems to be benefiting the press medium, with some advertisers shifting their spend. Online expenditure is growing the fastest, at 36% in 2004. |
Posted at 05/1/2005 07:59 by maut too MRS Stock talk : Aegis update has little impact 05-Jan-2005 07:55 Aegis says 2004 global advertising spending progress is ahead of expecta- tions, with European growth boosting the trend. "Investors are more interested in 2005, and the estimate here is slightly lower than before (4.9% vs 5.0%)," notes an analyst. "Nonetheless, this isn't a huge downgrade." Adds: "The statement is basically in line with what people are factoring in for the ad agencies, so we won't be adjusting forecasts at all." Shares closed yesterday at 107.75p. (SMT) 0755 GMT Jan 05 2005 |
Posted at 23/12/2004 07:33 by maut too INDYAegis in row with WPP agency over poaching allegations By Gary Parkinson 23 December 2004 The Paris offices of an affiliate of the advertising giant WPP have been raided by French court investigators investigating alleged client-poaching from its rival Aegis. Documents have been seized from KR Media, one-fifth owned by WPP, and shown to a judge. KR is headed by the advertising veterans Eryck Rebbouh and Bruno Kemoun, former employees of Aegis's Carat France arm. The pair, known as "the Twins", quit Aegis a year ago after a dispute with its Australian boss, Doug Flynn, over strategy. They set up KR and stand accused of wooing Aegis clients, despite signing an agreement not to do so. The dispute hinges on the wording of the agreement and whether they actively pursued business before its expiry at the end of the month. Mr Kemoun, 47, and Mr Rebbouh, 48, are among the world's most powerful figures in the advertising industry. The Frenchmen met in 1981 and formed an enduring partnership, building Carat, Europe's biggest advertising planning and media buying group. In 1991, they were made joint heads of Aegis' European operations, leaving in November last year to set up KR. Both earn the same wage and have equal stakes in the business. The legal wrangle follows a series of high-profile client defections from Aegis to KR, including the luxury goods giant LVMH, Bouygues Telecom and the chocolate maker Ferrero. Despite the dispute, Aegis reassured investors yesterday that it is on track to hit profit targets for the year after a "modest recovery" in advertising spending. Analysts expect annual profits of £92.5m, up from £80.5m last time. Aegis said its media businesses performed well in the first 11 months of the year, with turnover ahead of 2003. Its market research arm, Synovate, made sound progress, particularly in Europe and Asia- Pacific. Further growth is expected next year. Frederik Kooij, at Credit Suisse First Boston, said: "Aegis's trading statement gives little away but may placate concerns that growth stalled in the second half. We probably have some scope to nudge up numbers at some stage." Numis told clients to add to their holdings of the shares, for which it has set a target price of 118p. They closed 0.75p lower at 102.5p. |
Posted at 22/12/2004 07:32 by maut too 21.12.04 :+2.75, (103.25) an article in the Independent reports: the shares fell 1p to 100.5p despite talk that it is being stalked by the French entrepreneur Vincent Bollore. He is known to have a large holding in the French advertising rival Havas and has a reputation as being something of an activist investor. |
Posted at 27/5/2004 00:13 by maut too Shareholders vote down Aegis pay deal By Damian Reece indy 27 May 2004 Shareholders in Aegis, the media-buying agency, finally lost patience with the company and hit back at a £2.35m "payment for failure" enshrined in the contract of Doug Flynn, its chief executive. Led by the National Association of Pension Funds (NAPF), shareholders took the dramatic step of voting down the company's remuneration report at yesterday's annual meeting. It is the most significant shareholder revolt since the remuneration report of GlaxoSmithKline was rejected last year. The NAPF has decided to get tough with companies that still insist on flouting corporate governance best practice. Angry investors were objecting to the terms of Mr Flynn's severance pay, which is set at two years' salary plus twice his annual bonus. In 2003 he was paid a basic salary of £588,000 plus a cash bonus of another £588,000 that would give him a pay-off of £2.35m if Aegis wanted to terminate his contract. In the separate event of Aegis being taken over, Mr Flynn would get two years' salary plus an amount equal to his bonus paid in the previous 12 months, plus benefits which last year were £32,000, giving him a pay-off of £1.8m. Aegis said it would now consult with shareholders. However, it is understood to be surprised by the NAPF's actions. The association last year advised members to abstain on the issue of Mr Flynn's contract, which has been in place since 1999. A spokesman for the NAPF was adamant that investors would no longer stand for excessive contracts. "There are obviously concerns from the shareholders and the company would do well to listen to them," he said. Despite yesterday's corporate governance setback, Aegis announced a positive start to its new financial year with revenues in the first quarter up 10.9 per cent and like-for-like sales up 4.8 per cent. Aegis said the outlook for the advertising market was marginally more positive than its previous forecasts. |
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