Jobs axed at Aegis despite rise to £167m

The firm, which employs 16,800 people worldwide, has its headquarters in the West End and offices in Southwark. It said pre-tax profits were up 25.7% at £166.8 million as sales grew 4.6%, boosted by the weak pound.

Chairman and interim chief executive John Napier said: "We have positioned the group appropriately, and expect to produce a resilient performance in more difficult markets in 2009."