MDC revenue, net income up in Q2

The holding company reported 11.7% organic revenue growth in the second quarter.

MDC CEO Scott Kauffman
MDC CEO Scott Kauffman

NEW YORK: MDC Partners posted an 11.7% organic revenue increase in the second quarter to $390.5 million, the holding company said on Monday.

MDC achieved $13.5 million in net income in the quarter, up from $2.1 million in Q2 2016, as well as operating profit of $26.4 million, up from $24.1 million last year.

Broken down by geography, the holding company saw organic revenue growth of 11.5% in the U.S. in the second quarter to $304.5 million alongside a loss of 2.5% in Canada to $30.6 million. Outside of North America, MDC’s revenues were up 28.5% organically to $55.5 million.

The holding company has a controlling stake in communications shops including Allison+Partners, HL Group, Hunter Public Relations, Kwittken, and Sloane & Company. Its creative firms include 72andSunny, CP+B, Doner, and KBS. The holding company did not break out revenue growth by agency or segment.

In the first six months of the year, the group saw organic revenue growth of 8.7% to $735.2 million. Net income in the first half was $3.8 million, an improvement from a loss of $20.7 million in the first six months of 2016, and its operating profit was $34.8 million, up from $32.6 million in the same period of last year.

U.S. organic revenue was up 10.3% in the first half of the year to $579.1 million, but down 4.8% in Canada to $57.1 million. The holding company achieved organic revenue growth of 8.7% outside of North America in the first half to $735.2 million.

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