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Scott KauffmanMDC Partners reported a 2.8 percent second-quarter revenue decline to $380M and a plunge in net income to $1.1M from $8M. Organic growth dropped 1.7 percent.
Six-month revenue dropped 3.9 percent to $706.7M. Net loss widened to $30.1M from $1.7M.
CEO Scott Kauffman said 2018 "continues to be challenging."
To improve financial performance, the firm is reviewing its portfolio of agencies and selectively investing in talent and higher growth strategic offerings.
Kauffman expects full-year organic growth to fall in the 1 percent to 3 percent range.
MDC's PR firms include Hunter PR, Allison+Partners, Sloane & Co and KWT Global, which was formerly known as Kwittken.
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."
