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.