Home Archive Aegis Reports Healthy Profit of €1.9m

Aegis Reports Healthy Profit of €1.9m

Liam%20McDonnell%202%20RGBAegis Media Ireland turned in a pre-tax profit of €1.92m in the 12 months to the end of December 2011 according to the latest set of accounts filed with the Companies Registration Office.

Aegis Media Ireland is the holding company name for Carat Ireland, one of Ireland’s leading media buying agencies. The results do not include contributions from Aegis’ other businesses in Ireland including Vizeum, Brindley Advertising and iProspect. From January 2012 onwards, however, all four agencies have been operating under the one profit and loss account and one balance sheet.

The pre-tax profit notched up by Aegis Media Ireland was achieved on a turnover of €74.62m, which was an increase on the €72.59m achieved in 2010.  The agency’s gross profit was up from €6.39m to €6.40m although operating profit was down from €2.1m to €1.8m. At the end of 2011, the agency’s cash pile stood at €3.5m.

Last week, the agency announced that it was extending its digital footprint in the Irish market by acquiring Lucidity Digital, a web development and design agency for an undisclosed sum.

Founded in 2003, Lucidity is one of the fastest growing agencies in the Irish market, providing a wide range of creative and production solutions for both web and mobile. According to Aegis the acquisition of Lucidity will allow its clients access to a full suite of digital creative and production services and will further strengthen the Aegis Media Digital position in the Irish market. Lucidity will become part of Aegis’s digital creative origination network, Isobar, and will be re-branded Lucidity Isobar in Ireland.

According to Liam McDonnell, CEO of Aegis Media Ireland, “We are delighted to be acquiring Lucidity, which will enhance the prospects of our business in the Irish market, allowing us to offer greater integration across digital media and creative. We welcome the Lucidity team into the fold and look forward to working with our new colleagues to leverage the exciting opportunities this acquisition will bring to our business in Ireland.”

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