Ipsos at nearly 1-yr lows after another outlook cut

Ipsos SA

16/10/2024 08:25

** Shares in Ipsos  ISOS.PA  fall around 9% to their lowest
price since November after the market research company cut its
2024 organic growth target for the second time this year
    ** It now expects an organic growth around 1% for the year
compared with 3% expected at the end of July and more than 4% at
the beginning of the year
    ** "The group is still being penalised by a difficult
situation in the US," Portzamparc says in a note
    ** The broker notes the US market is marked by a
"wait-and-see" attitude linked to the elections, the end of
major one-off Public Affairs contracts, and restructurings in
the pharmaceuticals sector
    ** The company also announces in advance its third-quarter
revenue, estimated at 591 million euros ($642.83 million) and
behind the 609 million euros seen in consensus
    


($1 = 0.9194 euros)

 (Reporting by Mathias de Rozario)
 ((mathias.derozario@thomsonreuters.com))