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| John Wren |
Omnicom CEO John Wren reported today that Q2 PR revenues slipped 3.7 percent to $349.3M and 3.6 percent to $683.4M for the first-half.
The FleishmanHillard, Ketchum, Portland, CLS Strategies, Cone, Mercury, Marina Maher Communications and Porter Novelli group dipped 1.3 percent and 0.9 percent, respectively, on an organic basis.
Wren blames negative effects of foreign exchange rates and more divestiture than acquisition activity for the 3.6 percent slippage in Q2 revenue to $3.7B.
Net income moved ahead 1.8 percent to $370.7M during the quarter.
Geographically, Omnicom 2Q revenues dropped 13.4 percent to $674.9M in Continental Europe and 0.7 percent to $361M in the UK.
US revenues were up 0.7 percent to $2B.
WPP shares have been dropped from the London Stock Exchange’s prestigious FTSE 100 index as its stock market price has plunged by two-thirds this year.
Public Policy Holding Company registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
WPP suffered a 10.2 percent drop in 1H revenues to $6.7B and a 47.8 percent plunge in operating profit to $297M.
Interpublic reported Q2 net revenues dropped 6.6 percent to $2.2B and operating income tumbled 23.4 percent to $243.7M. 
