Aegis issued a cautious outlook for the rest of the year as its media buying unit lowered forecasts for global advertising spending.

The warning came after the marketing company’s first-half results beat forecasts, in part as a result of the timing of revenues previously expected in the second half. Aegis reported organic revenue growth of 8.2 per cent in the six months to June 30 and maintained sales and profitability guidance for the full year.