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| Mark Penn |
Stagwell CEO Mark Penn reported a 16 percent spurt in Q2 organic net growth as revenues advanced 221 percent to $672.9M.
The firm’s digital capabilities accounted for 57 percent of revenues and grew 28 percent organically compared to last year.
Penn said Stagwell is now recognized as “a serious alternative to legacy incumbents” due to its unique mix of digital and creative expertise,
“We are now a regular contender in many of the largest global pitches,” he added.
Penn is bullish on the second half of 2022 as its Stagwell’s “advocacy businesses prepare for a record cycle of US political advertising spend and our year-over-year comparisons ease.”
Stagwell expects full-year organic growth will fall into the 18 percent to 22 percent range.
SKDK, Sloane & Co., Allison+Partners, KWT Global and Hunter are Stagwell’s PR properties.
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."
