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| Alejandro Romero |
Madrid’s LLYC posted 14 percent growth to $90M and a 15 percent rise in EBITDA to $20M. Organic growth advanced eight percent.
CEO Alejandro Romero called 2023 “a crucial year for the firm with a very positive outcome.”
He noted that LLYC bolstered its position in the US via the acquisition of an 80 percent stake in San Diego-based BAM for $13.2M. It also strengthened its technology practice.
LLYC’s deep digital unit., which includes marketing, performance and paid media and AI solutions grew 21 percent during the past year and accounts for 34.5 percent of operating income.
The firm plans to invest about $45M during the 2023 to 2015 periods with a focus on building up its marketing and corporate affairs practices.
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.
Why financial planning always plays a crucial role in every PR firm’s success.
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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