Omnicom revenues fuel growing hopes for global recovery

Omnicom's first-quarter results have fuelled further hopes of a global advertising recovery.

The world's largest advertising holding company announced a 17 per cent rise in first-quarter profits on the back of growth in advertising, direct marketing, PR and speciality businesses.

Profits hit $135.6 million, up from $115.5 million in the first quarter of 2003. This came on the back of an increase in revenues of 15 per cent to $2.2 billion.

Omnicom's advertising revenues grew by 13.9 per cent, but direct marketing saw the largest growth, with revenues up by 19 per cent.

Growth in UK revenues was particularly strong, up by 18.7 per cent to $251 million. Omnicom's US revenues were up by 11.1 per cent to $1.2 billion.

However, John Wren, Omnicom's president and chief executive, indicated that revenues from Germany and France were flat and were still weak in The Netherlands.

Wren also indicated that Omnicom would step up its acquisition programme and was keen to expand in Asia.

Omnicom's 2003 profits grew by 5 per cent to $676 million.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus