Omnicom reports 2% profits rise to $283m

Omnicom, the world's second-largest advertising group, has reported a 2.2% rise in second-quarter net income to $282.7m (£180.6m), although its revenue growth was the slowest since Q4 2009.

John Wren: president and chief executive of Omnicom
John Wren: president and chief executive of Omnicom

Worldwide revenues, hampered by less-favourable currency exchange rates, increased 2.1% to $3.56bn (£2.28bn), although organic growth topped that at 5.1%.

In dollar terms, Eurozone revenues dropped 12.9% to $576.6m (£369.1m), but the US, the UK and the other region Omnicom classes as "rest of the world" grew.

The UK, where Omnicom strengthened its DDB network with the estimated £60m acquisition of Adam & Eve in May, reported revenue growth of 2.3% to $310.9m (£!99m)and organic growth of 3.2%.

The owner of creative networks BBDO and TBWA and media networks OMD and PHD has grown revenue and net income in every quarter since the spring of 2010.

It is the first major group to report its second-quarter finances, ahead of WPP, Publicis Groupe and Interpublic.

Omnicom was revealed to be in protracted talks with digital marketing agency LBI about a potential $580m (£371m) deal at the end of June. 

Follow Daniel Farey-Jones on Twitter @danfareyjones

Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.


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

1 PHD and ITV storm Media Week Awards

PHD reigned supreme at the 2016 Media Week Awards, after winning media agency of the year and the coveted Grand Prix for its work for Sainsbury's Christmas campaign, while ITV won sales team of the year.

Just published