Omnicom suffers 24 per cent profit fall

LONDON - Omnicom has reported a 24 per cent drop in profit for the three months to the end of June.

Wren... Omnicom chief
Wren... Omnicom chief

The group, which is led by John Wren and owns networks including BBDO, DDB and OMD, reported a 24 per cent year-on-year fall in profit to $233.4 million (£141 million) in Q2 2009, and a similar fall for the six months to the end of June.

In the second quarter, the US-based group saw organic revenue growth fall 10.8 per cent, a drop of 8.8 per cent for the six-month period.

Revenue fell 17.4 per cent in the second quarter to $2.87 billion, and was down 15.8 per cent to $5.62 billion for the half year.