By Kevin McCauley
MDC Partners reports a 60 percent rise in first-quarter revenues to $218M and a cut in red ink from $10.2M to $8.7M.
Organic revenues jumped 26.5 percent operating profit hit $2.2M compared to a $749K loss in the last year’s period.
CEO Miles Nadal says the performance is a "terrific way to begin the year." He believes MDC's "transformational" work for clients and "unique understanding of how consumers consume influence in a digital economy" drove Q1 results.
He is keen on "creating platforms that have longevity, rather than short-term campaigns, leading to long lasting relations with clients driven by increasing return on marketing investment and resulting in a strong pace of news business," according to his statement.
MDC predicts Q1 momentum will power it to a $1B run rate during the next nine months. The firm narrowed its net loss from $10.1M to $8.7M.
MDC's PR units include Allison & Partners, Kwittken & Co. and Sloane & Co.
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