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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 reported a 5.5 percent decline in Q1 PR revenues to $292M as its BCW and Hill & Knowlton units suffered the loss of Pfizer assignments, and cutbacks in client spending due to the economic uncertainty.
Interpublic CEO Philippe Krakowsky said the firm is off to a “solid start to the year” as its flat $2.2B net revenues are in line with 2024 financial targets.
Why financial planning always plays a crucial role in every PR firm’s success.
Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
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