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| Mark McCall |
FTI Consulting's strategic communications unit registered 1.2 percent growth to $58.4M during the first quarter. Profit (EBITDA) slipped 23.5 percent largely due to costs connected to a 14.7 percent rise in billable headcount to 755 people.
Mark McCall, global stratcom leader, called the financial performance solid, when compared to the record-setting results in the year-ago period and the seemingly overnight changes in the business environment beginning mid-quarter with the spread of the COVID-19 pandemic.
While M&A work declined, the stratcom group saw a pick-up in public affairs, issues/crisis work and counseling clients how to respond to disruptions in the supply chains and customer base.
McCall anticipates his group will benefit during the COVID-19 recovery period from opportunities in the bankruptcy, litigation, life sciences, healthcare and environmental/social/governance categories.
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."
