Interpublic profits drop 3.1% to $105.5m

Be the first to comment
Michael Roth: chairman and chief executive of Interpublic
Michael Roth: chairman and chief executive of Interpublic

Interpublic (IPG), the world's fourth largest advertising group, has become the first of the big four to reveal a drop in second quarter profits.

IPG yesterday unveiled a 3.1% year-on-year drop in second quarter net income to $105.5m (£67m).

Its figures follow better results from Omnicom, with net income up 2%, and Publicis Groupe, with pre-tax profits up 19.6%. WPP is set to report its second quarter results in August.

IPG, which owns McCann Erickson and DraftFCB as well as media networks Universal McCann and Initiative, was hit by a 3.7% decline in revenue in its home turf of the United States to $950.8m.

International revenues rose 1.6% to $764.8m, but overall revenues fell 1.4% to $1.72bn.

Michael Roth, chairman and chief executive of Interpublic, said: "The global economic situation remains uncertain, which will require vigilance.

"We are nonetheless targeting stronger growth in the second half, in order to achieve our full year 2012 objective of 3% organic revenue growth."

The group’s second quarter organic revenue growth was 0.8%.

SUBSCRIBE TO CAMPAIGN

Only £57 for 3 months

Includes every print & iPad edition, plus full access to Campaign online and other Brand Republic sites.

SUBSCRIBE

Campaign Jobs

Thousands of jobs across advertising, creative, marketing and media

  • Account Executive £22000 - £25000 per annum + great benefits! Twist Recruitment, London
  • Designer £28000 - £38000 per annum Major Players, London
  • ACCOUNT DIRECTOR £40000 - £50000 per annum + bonuses and benefits Live Recruitment, Birmingham
The end of false recognitions
Shares0
Share

1 The end of false recognitions

You'll be seeing less work from DDB at award shows in 2016. Here's why.

Just published