Interpublic Group announces a first quarter operating loss

The Interpublic Group this week announced a first quarter operating loss of £90 million. This compares with a loss of £85.5 million for the same period last year. The group described its first-quarter revenue of £75 billion as "essentially flat". Michael Roth, IPG's chairman, admitted last year's client defections had taken their toll and that achieving revenue growth this year would be "challenging".