Brief: Ipsos Now Expects FY Organic Growth Between 3% To 4%

Ipsos SA

14/09/2023 06:54

Sept 14 (Reuters) - Ipsos SA  ISOS.PA :
    * IPSOS EXPERIENCES CONTINUED GROWTH BUT AT SLOWER PACE THAN
FORECASTED FOR 2023. GROUP NOW EXPECTS ORGANIC GROWTH BETWEEN 3%
TO 4%, COMPARED TO "AROUND 5%" AT START OF YEAR
    * ACTIVITY OF MAJOR TECH CUSTOMERS DID NOT IMPROVE DURING
SUMMER
    * IN CHINA, ACTIVITY REMAINED STABLE IN JULY AND AUGUST AND
IS
BELOW OUR EXPECTATIONS, REFLECTING MORE GENERAL DIFFICULTIES OF
CHINESE ECONOMY
    * WHILE OUR ACTIVITY IN NORTH AMERICA WILL BE IMPACTED BY
TECH
SECTOR AND BELOW OUR EXPECTATIONS, WE ANTICIPATE A POSITIVE
REVENUE GROWTH IN THIS REGION FOR 2023.
    * REVISION OF 2023 GROWTH TARGET IS HENCE RESULT OF
TEMPORARY AND
IDENTIFIED ADVERSE FACTORS
    * OUR REVENUE ORGANIC GROWTH WILL STRONGLY IMPROVE IN Q3 AND
WILL
BE SIGNIFICANTLY ABOVE 5% IN SECOND HALF
    * A MORE DETAILED ANALYSIS OF GROUP'S ACTIVITY WILL BE
COMMUNICATED WHEN Q3 REVENUE IS PUBLISHED ON OCTOBER 26
    * WE THUS CONFIRM OUR OPERATING MARGIN TARGET FOR 2023 OF
AROUND
13%

Source text for Eikon:  ID:nGNE5MJzTb 
Further company coverage:  ISOS.PA 

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