Mitchells boosts a healthy Aegis balance sheet

Mitchells has been credited for its strong contribution to the balance sheet of its new owner, Aegis, which reported a 5.8% rise in revenue growth – to £1.45bn (AUS$2.38bn) – in its preliminary 2010 financial results.

Asia Pacific was the British media buying company’s fastest growing region, with revenues up 34% to £117.7m (AUS$193.5m). Mitchell Communication Group, acquired last year for £208m (AUS$341.9m), contributed £12.6m (AUS$20.7m) to the region’s total.

New clients Kraft-Cadbury and Disney underpinned a strong performance for Australia’s only billion-dollar billing media agency, the report stated.

“The acquisition of Mitchell, Australia’s leading marketing communications agency, transforms our market position to the number one player in Australia and to a competitive top three position across the Asia Pacific region,” read the report.