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| Anne-Marie Curran |
The management of Ireland’s Drury Porter Novelli has bought the firm back from Omnicom. Terms of the deal were not disclosed.
Omnicom acquired Drury Communications, which launched in 1989, in 2000. It became part of Porter Novelli’s network in 2015. Once the buyout is completed, firm will revert to its original name.
Anne-Marie Curran, managing director, said her management team is keen to become independent again.
"Under management ownership, our team will be even more agile and innovative, exploiting the fast-moving evolution of communications consultancy," she said. “The consequences of the pandemic have re-enforced the critical role of effective communications for brands and businesses.”
Billy Murphy, chairperson, Sinead Birt, finance director and Paddy Hughes, director, round out the management buyout group,.
The Irish Times reports that Drury Porter Novelli, reported a 24 per cent increase in turnover to $5.2M for 2019, with pretax profit up 40 per cent to $980K. Net profit for 2019 rose by 40 per cent to $845K.
Amazon web services, UPS and Dentons are among new clients.
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. 
WPP has adopted a gloomier profit and sales forecast due to a deteriorating Q2 financial performance triggered by weak client spending as companies cope with the challenging economic backdrop.
