 |
| José Antonio Llorente |
LLYC reported an 8.3 percent dip in 2020 revenues to $53.3M largely due to the devaluation of currencies in Brazil, Mexico and Argentina triggered by the COVID-19 pandemic.
The 2020 results compare to LLYC’s record-setting year-earlier financial performance.
LLYC wrapped up the pandemic-dominated year without cutting staff or increasing debt.
“We have clearly gone through a tough period filled with tremendous challenges, but at LLYC, we look to the future with a desire to continue growing and investing in our company and our professionals so we can offer what our clients need and expect from us,” José Antonio Llorente, founding partner/chairman, said in a statement.
The Americas region generated 52 percent of 2020 revenues for the Madrid-based firm. Argentina, Portugal and Colombia were top performers.
The COVID-19 crisis accelerated the digital transformation of the firm, according to Alejandro Romero, CEO of the Americas.
His goal is to “get ahead of the game and adapt to the new challenges our clients face by offering innovative global solutions that will help their business and profits.”
LLYC, which has offices in Miami, DC and New York, has 600 professionals, of which 66 percent are women, who account for 44 percent of management positions.
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.
Have a comment? Send it to 
No comments have been submitted for this story yet.