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| Mark Penn |
Stagwell reported Q3 net revenues grew 11.6 percent to $555.8M and 11.3 percent on an organic basis.
CEO Mark Penn said high-growth digital services drove Stagwell performance, increasing net revenue by 21 percent.
The firm chalked up $86M in net new business as Stagwell’s units expanded client relationships and “won new mandates based on digital, creative and strategic excellence,” said Penn.
That included wins or expanded business from Microsoft, Bud Light, 3M, General Mills and Salesforce.
Stagwell chalked up Q3 net income of $10.6M compared to a $2.1M year-ago loss.
Penn projects full-year net organic revenue growth in the 16 percent to 20 percent range.
SKDK, Sloane & Co., Allison+Partners, KWT Global and Hunter are part of Stagwell.
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."
