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| John Wren |
Omnicom’s PR group posted another down quarter as organic revenues slipped 2.9 percent to $417M during Q4.
The Ketchum, Marina Maher Communications, Portland, Porter Novelli and FleishmanHillard group declined 5.5 percent organically during Q3 and 0.2 percent for all of 2023.
In a sharp contrast to PR, the advertising & media group chalked up 9.3 percent in Q4 organic growth to $2.3B and a 6.5 percent advance for the full year.
Overall, OMC CEO John Wren reported a 4.4 percent spurt in Q4 organic growth to $4.1B and a 4.1 percent jump to $14.7B for 2023.
Wren said the firm is “set up well with solid fundamentals, tremendous opportunities in digital commerce and retail media from the Flywheel acquisition and momentum in new business wins.”
Continental Europe, which generated 20.4 percent of Q4 revenues, was OMC’s star regional performer as it rose 14.1 percent to $829M on an organic basis.
The US (47.8 percent of revenues) grew 0.6 percent (on a reported and organic basis) to $1.9B during the quarter. Asia Pacific (12.9 percent of revenues) was up 10.9 percent. The UK (10.4 percent of revenues) grew 5.8 percent.
Joele Frank represents LXP Industrial Trust as the logistics giant agrees to be acquired by Brookfield Asset Management and the Canada Pension Plan Investment Trust for $5.2B in cash.
Jenn Kettnich, who has more than 15 years of financial communications experience, has joined Liftoff Mobile as VP-investor relations following completion of its recent IPO.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
