Omnicom reports 2% profits rise to $283m
By Daniel Farey-Jones, campaignlive.co.uk, Tuesday, 17 July 2012 03:35PM
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.
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.
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This article was first published on campaignlive.co.uk
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