* Ipsos H1 operating margin before exceptionals 8.1 percent
* Ipsos keeps profitability goal for 2009.
(Adds details)
PARIS, Aug 26 (Reuters) - French market research company Ipsos posted a 14.6 percent fall in first-half core profit on Thursday amid a global economic downturn and said it did not expect a significant improvement in the second half.
Ipsos said further cost-cutting would allow it to achieve a stable 2009 operating margin, before exceptional items.
"It would be premature and probably unrealistic to hope for the second half of 2009 to be much better than the first half," the statement said.
Cost cuts and the sustaining of activity at a level "at least equal" to that of the first six months of the year should enable Ipsos to achieve a stable operating margin, excluding non-recurring items, when compared to the 10.2 percent achieved in 2008, it said.
Operating profit before non-recurring items declined to 36.3 million euros from 42.4 million. This translated into a margin of 8.1 percent of sales against 9.2 percent in the year-ago period.
Revenue declined 3.2 percent to 447.8 milion euros. On a like-for-like basis, sales were down 4.8 percent.
Global advertising sector revenues have been battered this year as clients have cut spending during the downturn.
Earlier in the day, WPP, the world's largest advertising group by revenue, posted first-half like-for-like sales at the low end of forecasts but said it expected a better second half due to job cuts and easier comparatives.
Paris-based Ipsos is one of the world's top-ten market research groups with 2008 sales of 979.3 million euros. It competes with Taylor Nelson Sofres Plc, Synovate and Germany's GFK.
With a market capitalisation of 687 million euros, Ipsos serves a vast array of clients ranging from comsumer goods giant Procter & Gamble to France Telecom.
Ipsos shares closed down 1.72 percent at 20 euros. The stock has gained 6 percent so far this year. (Reporting by Dominique Vidalon; Editing by Jon Loades-Carter)