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| John Wren |
Omnicom’s PR unit suffered a 4.9 percent drop in Q1 revenues to $317.5M. It posted 3.5 percent in negative organic growth.
The FleishmanHillard, Portland, Mercury, Cone, Marina Maher Communications, and Ketchum operation generated 9.3 percent of Omnicom’s $3.4B revenues.
Omnicom CEO John Wren blamed the ongoing COVID-19 crisis for the ad/PR giant’s 1.8 percent negative organic growth.
Noting that the effects of the pandemic appear to be moderating in several of Omnicom’s markets, Wren anticipates positive revenue growth beginning in Q2 and for the full year.
Omnicom reported a 10.8 percent boost in Q1 profit to $465.4M on a 0.6 percent rise in revenues.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
