MDC Partners reported revenue for the second quarter 2014 rose 10.5% to $317.7M, including organic growth of 7%, while net income soared nearly 68% to $16.5M.
MDC's strategic marketing services unit, which encompasses PR, saw revenues climb 10.1% to $221M, while its performance marketing services saw an 11.4% gain to $96.7M, despite a 1% organic decline for the period.
CEO Miles Nadal said its MDC's PR linchpin, Allison+Partners, continued its "aggressive and profitable expansion" during the quarter that included two French offices as part of its "international build out." A+P, with 17 global offices, posted nearly $29M in revenue (+25%) last year.
Nadal said MDC has been a "very large beneficiary" of the proposed and aborted merger of Publicis and Omnicom, including the addition of talent, new business, and opportunities for M&A deals while the marketing giants were trying to consummate the deal. CFO David Doft said MDC is working on a "number of promising opportunities" in the M&A realm "and hopefully we'll close on one or more of them in the weeks and months to come."
MDC overall reaped $54M in net new business during the quarter, its best performance to date, including ADT, Bellisio Foods, BMW 7 Series, TE Connectivity and Carrera eyewear. It added Michael Bassik from Burson-Marsteller in June to head its digital operations.
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