Group Press Releases
Preliminary Results
19 March 2009
Aegis Group plc
2008 Annual Results Announcement
Good results and operational progress; appropriately positioned for difficult markets in 2009
| £m | 2008 | 2007 | Change, % | Constant currency, % |
| Revenue | 1,342.0 | 1,106.4 | 21.3 | 10.1 |
| Underlying results* | ||||
| operating profit | 185.4 | 146.2 | 26.8 | 10.7 |
| pre-tax profit | 166.8 | 132.7 | 25.7 | 9.3 |
| diluted eps | 10.3p | 8.2p | 25.6 | 9.6 |
| Statutory results | ||||
| operating profit | 136.4 | 140.3 | (2.8) | (15.6) |
| pre-tax profit | 124.6 | 131.7 | (5.4) | (17.7) |
| diluted eps | 7.3p | 7.8p | (6.4) | |
| Dividend per share | 2.50p | 2.30p | 8.7 | |
| Operating cash flow | 261.6 | 175.0 | 49.5 |
* Throughout the commentary in this announcement, results are stated on an underlying basis unless otherwise indicated. See page 2 for definition of underlying. Percentage movements are given at reported exchange rates unless otherwise stated.
- Good revenue growth, up 21.3% to £1,342.0m
- Operating profit up 26.8% to £185.4m; pre-tax profit up 25.7% to £166.8m
- Strong positive currency impact; on a constant currency
basis:
- Revenue +10.1%
- Operating profit +10.7%
- Pre-tax profit + 9.3%
- Revenue growth relatively balanced between acquisitions and organic
- Further good growth in digital; 29% of Aegis Media revenue in 2008
- Continued investment in product and service development
- Cost and contingency plans developed and put in progress for
changing market environment:
- £27.4m charge in 2008; £12.0m in 2009
- Expected two year payback
- Full-year run-rate forecast to be achieved mid-2010
- Operating cash flow ahead by 49.5% to £261.6m; comfortably within covenants
- Diluted earnings per share of 10.3p, up 25.6%, or 9.6% at constant currency
- Full-year dividend of 2.50p, up 8.7%
