Ipsos falls after it cuts FY organic growth outlook

Ipsos SA

14/09/2023 09:46

** Shares in France's Ipsos  ISOS.PA  edge down around 2%
after the market research co cut its FY organic growth forecast
on weakness in demand 
    ** It now expects organic growth between 3%-4% for 2023,
against around 5% guided previously
    ** "The activity of major Tech customers did not improve
during the summer," co says, adding that the dynamic in China is
"below our expectations"
    ** Co nonetheless expects a "very significant improvement"
in operating margin in H2, and confirms FY target of 13% 
    ** "We consider this sales warning as a half-surprise,"
Portzamparc says, adding management had already communicated
some "uncertainties"
    ** The brokerage cuts its own forecast, now seeing 3.5%
organic growth for FY, versus 4.5% previously 
    ** Ipsos shares, which have shed around 23% YTD, head for
their worst day in about a month and a half 


 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))