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| Paul Taaffe |
Huntsworth CEO Paul Taaffe says the Grayling, Citigate Dewe Rogerson and Red communications division has reported Like-For-Like revenue growth "for the first time in a number of years."
Though overall revenues were flat for the first half of 2019, LFL revenues advanced 0.9 percent to $43.5M. Operating profit surged 18.5 percent to $3.8M.
Taaffe, whose acquisition binge has refashioned Huntsworth into largely a medical communications company, attributes the good financial news on the PR front to "eliminating unprofitable client contracts and operations, streamlining infrastructure and investing in quality staff."
Grayling, Huntsworth's PR flagship, remains in the doldrums as LFL revenues slipped 3.2 percent to $20.2M due to a decline in its US business and an "underperformance" in the Middle East. The UK countered the doldrums with a 10.9 percent jump in LFL revenues due to client wins. Grayling shaved the first-half loss to $120K from $360K a year ago.
Red (consumer, digital, content shop) improved LFL revenues by 1.5 percent to $10.2M, while financial firm Citigate Dewe Rogerson turned in a solid 7.2 percent hike in LFL revenues to $12.8M sparked by strong performances in Hong Kong, China, France and the U.K.
Taaffe expects the PR operation to show improved revenue and profit performances for the rest of the year.
WPP CEO Cindy Rose declares her stabilization plan is "firmly on track" as the company reports a 4.7 percent dip in 1H revenues.
FTI Consulting reported a 2.6 percent drop in Q2 strategic communications revenues to $100M, a shortfall largely due to a $7.4M decline in pass-through revenues.
Omnicom CEO John Wren reported a 7.2 percent rise in Q2 “core operations” to $6B and a 6.1 percent spurt on an organic basis.
Publicis Groupe’s H1 net revenues inched ahead by 1.1 percent to $8.3B. Organic growth hit the 4.7 percent mark.
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.
