Aegis Posts 13 Percent Rise in Underlying Profit

Aegis’ 2002 profits before taxes and exceptional items rose 13 percent to $114 million on an 11.9 percent increase in revenue to $954 million. Aegis, Europe’s largest media buyer, also said last week that it expects an advertising turnaround in Europe in 2003.

Publicis’ Net Income Drops 2.6 Percent

Despite adding Bcom3 in the fourth quarter, Publicis reported that 2002 net income fell 2.6 percent to $162.4 million. Profits rose 10.2 percent to $261.7 million before accounting for goodwill. Publicis beat analysts’ margin forecasts of 13.7 percent, posting a 14.7 percent margin in 2002, vs. 14.1 percent in 2001. The Bcom3 acquisition boosted Publicis’ 2002 billings 48.5 percent to $27.3 billion.