 John Wren |
Omnicom CEO John Wren reported today that second-quarter revenues rose 1.8 percent to $3.9B, while operating profit advanced 1.9 percent, to $582.3.
Organic Q2 growth for the PR group, which includes FleishmanHillard, Brodeur Partners, Cone, Ketchum, Mercury, Portland, Kreab and Porter Novelli, advanced 2.7 percent from last year's period.
OMC enjoyed robust Q2 organic growth in Europe (+11.2 percent), Asia-Pacific (+8.5 percent) and Latin America (+2.5 percent).
It stumbled in North America (-0.9 percent), UK (-2.2 percent) and the Middle East/Africa (-8.0 percent).
Wren told analysts that weakness in the North American market would subside "partially" for the rest of the year.
He said OMC was hurt by cuts in client spending and the reduction of revenues from accounts lost during earlier quarters.
For the six-month period, OMC's revenues inched ahead 1.5 percent to $7.5B, and operating profit rose 1.7 percent to $1B.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
