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| Mark McCall |
FTI Consulting posted a 3.8 percent dip in Q2 strategic communications revenues to $56.8M, while operating income slipped 3.7 percent to $8.8M.
First-half revenues fell 1.2 percent to $115.3M and operating income declined 15.5 percent to $16.3M.
Mark McCall, stratcom group leader, said FTI's performance stacked up against a record-setting year-ago period and was made during the "extraordinarily challenging" business environment.
He told O'Dwyer's the stratcom unit has been realigning its business to provide clients the services that they need (restructuring, transactions, crisis, activism, ESG, and public affairs) especially during the pandemic.
The overall challenge is "finding ways to operate" during these uncertain times so FTI will be well-positioned for more robust growth in 2021 and 2022.
McCall said the stratcom division continues to invest in people as its headcount rose 13.2 percent to 761 employees from the 2019 period.
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."
