Omnicom profits slip by 22.5 per cent in Q3

LONDON - Omnicom, the global advertising group that runs agency networks including BBDO and DDB, has seen its profits fall by 22.5 per cent during the three months ending 30 September.

John Wren...Ominicom chief executive
John Wren...Ominicom chief executive

In its third quarter results, released today, the group, run by John Wren, reported that year-on-year profits had decreased from $213.6 million to $165.6 million, with worldwide revenue falling 14.4 per cent to $2.83 billion.

In the US alone, revenue for the period dropped by 13.2 per cent to $1.5 billion, while international revenue decreased 15.8 per cent to $1.35 billion.

The figures meant Omnicom's operating profit for the three-month period fell from $373.4 million in 2008 to $294.8 million in 2009.