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| John Wren |
Omnicom's Q1 revenues inched ahead one percent to $3.4B, while operating profit dipped 1.8 percent to $346M as clients grappled with macroeconomic, technological and social challenges, according to CEO John Wren.
He called OMC’s 5.2 percent organic growth “a solid start to the year.”
The PR group (Ketchum, FleishmanHillard, Porter Novelli, Mercury, Marina Maher Communications) posted 3.6 percent growth to $375.5M. It was up 5.8 percent organically.
During the quarter, OMC recognized the transition to a flexible working environment that allows for partial remote work. It took a $119M pretax charge ($91M after-tax) to reduce and reposition its office lease portfolio.
Looking ahead, Wren expects “organic growth, portfolio enhancement, financial discipline, and thoughtful capital allocation will continue to benefit our clients and our shareholders.”
He projects full-year organic growth from three to five percent.
Publicis Groupe’s H1 net revenues inched ahead by 1.1 percent to $8.3B. Organic growth hit the 4.7 percent mark.
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.
