Omnicom fourth quarter profits drop 15%

NEW YORK - Omnicom has reported a 15.3% year-on-year decrease in net income for the fourth quarter of 2009 to $229.6m (£146.91m).

The holding company behind major ad networks DDB and BBDO reported its results today, three weeks ahead of WPP, its rival for the crown of the world's biggest marketing services company.

The hit to Omnicom's profits came after just a 3% drop in fourth quarter revenues to $3.27bn.

Growing revenues from outside the US overtook the group's domestic revenues during the quarter.

International revenues actually increased by 1.5% to $1.635bn while domestic revenues shrank 7.3% to $1.63bn.

For 2009 as a whole net income was down 20.7% to $793m and revenues were down 12.3% to $11.72bn.

Omnicom is led by chief executive John Wren and also owns media networks OMD and PHD.

Wins during the fourth quarter included PHD's capture of Unilever's $450m media account in China.

Subscribe to Campaign from just £57 per quarter

Includes weekly and quarterly print issues, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
BBH deputy ECD Caroline Pay exits
Share

1 BBH deputy ECD Caroline Pay exits

Bartle Bogle Hegarty has parted company with its deputy executive creative director Caroline Pay and has promoted Ian Heartfield, creative managing partner, and Anthony Austin, chief executive of Black Sheep Studios, to take over as joint deputy ECDs.

Agencies' anger at failure of Stronger In campaign
Shares0
Share

1 Agencies' anger at failure of Stronger In campaign

"We failed the country, we could and should have done better." So says one senior advertising executive involved in the Britain Stronger In Europe campaign.

Just published