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Omnicom’s PR units suffered a 8.6 percent decline in Q2 revenues to $372.9M.
Chris Foster’s PR group, which includes Portland, Mercury, Marina Maher Communications, Porter Novelli, Ketchum and FleishmanHillard, posted a 9.3 percent plunge in organic revenues.
For the first half, PR revenues declined 7.1 percent to $735.6 and 7.0 percent on an organic basis.
CEO John Wren highlighted OMC’s “solid 3.0 percent organic revenue growth this quarter even in the face of ongoing macroeconomic and geopolitical uncertainty—underscoring once again the resilience and agility of our business.”
He is eager to complete the "transformational acquisition” later this year and is “more optimistic than ever about the significant growth opportunities this strategic transaction will create for our people, clients, and shareholders.”
During Q2, OMC posted a 4 percent boost in revenues to $4B and a 21.5 percent drop in net income to $257.6M.
The Blueshirt Group handles Lime as the San Francisco-based electric bike/scooter company has filed paperwork for an initial public offering, which will have an expected valuation in the $2B range.
Why CEOs need their CFOs and CCOs on the same page.
ICR handles Rare Earths Americas as the Manchester, Georgia-based company plans an initial public offering valued in the $370M range.
DGA Group handles takeover target Intertek as the London-based quality assurance testing company as it launches a strategic review of its operations.
