The Week: City News - IPG revenues rise in 2008

Interpublic Group has reported a 6.2 per cent increase in its revenues during 2008.

Full-year revenue rose to $6.96 billion, with income rising 71.3 per cent to $344.3 million. However, the group, which owns agencies including McCann Erickson, DraftFCB and Initiative, reported a fall in revenues in the fourth quarter due to the "negative effect of the broader economic situation". Revenues in the quarter fell 2.2 per cent to $1.9 billion. Michael Roth, the chairman and chief executive of IPG, claimed that the group is well placed to face the downturn: "Our long-standing conservative approach to financial and balance sheet management has us well positioned for these volatile times."