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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.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
