Daniel Farey-Jones
Jul 28, 2012

Interpublic profit drops 3.1 per cent to $105.5m

International revenues rose 1.6 per cent to $764.8m, but overall revenues fell 1.4 per cent to $1.72bn

Interpublic profit drops 3.1 per cent to $105.5m

 

Interpublic (IPG) announced on 26 July a 3.1 per cent year-on-year drop in the second quarter (ended 30 June 2012) net income to $105.5m.

 

Its figures follow better results from Omnicom, with net income up 2 per cent, and Publicis Groupe, with pre-tax profits up 19.6 per cent. WPP is set to report its second quarter results in August.
 
IPG, which owns McCann Erickson, Lowe and Partners, and DraftFCB, as well as media networks Universal McCann and Initiative, was hit by a 3.7 per cent decline in revenue in its home turf of the United States to $950.8m.
 
International revenues rose 1.6 per cent to $764.8m, but overall revenues fell 1.4 per cent to $1.72bn.
 
Michael Roth, chairman and chief executive of Interpublic, said, "The global economic situation remains uncertain, which will require vigilance.
 
"We are nonetheless targeting stronger growth in the second half, in order to achieve our full year 2012 objective of 3 per cent organic revenue growth."
 
The group’s second quarter organic revenue growth was 0.8 per cent.
 
This article was first published on campaignlive.co.uk
Source:
Campaign India

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