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| Alejandro Romero |
LLYC reported first-half revenues grew 12 percent to $54M, while EBITDA advanced 9 percent to $9.7M. Organic growth rose 8 percent.
The results include LLYC’s March acquisition of an 80 percent stake in BAM, a 36-member San Diego shop that services the technology and venture capital segments.
That deal, which was valued at $13.2M, makes the US LLYC’s No. 3 market, following Spain and Mexico.
LLYC CEO Alejandro Romero said he’s pleased with the positive 1H results that were achieved despite a complex global context.
“We’ve seen a significant upswing in our numbers since Q2, and our digital and marketing solutions, as well as our focus on healthcare, give us every reason to remain optimistic about our future prospects,” he said.
Romero anticipates that LLYC will record double-digit growth for the full 2023 year.
Stagwell registered an eight percent rise in Q1 revenues to $670M and a $1.3M net loss compared to a $1.4M profit last year.
WPP reported a 5.5 percent decline in Q1 PR revenues to $292M as its BCW and Hill & Knowlton units suffered the loss of Pfizer assignments, and cutbacks in client spending due to the economic uncertainty.
Interpublic CEO Philippe Krakowsky said the firm is off to a “solid start to the year” as its flat $2.2B net revenues are in line with 2024 financial targets.
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Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
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