Omnicom reports PR revenue rise of 9.5% in Q4 of 2003

NEW YORK: Omnicom Group, the largest marketing holding company, said last week that it saw its PR revenue rise by 9.5% during the final quarter of 2003, compared with the same quarter in 2002. While the jump seems to show renewed strength for the firm's PR holdings, at least some of the rise seemed to come from the US dollar's recent weakness against other currencies, which allows multinational firms like Omnicom to convert revenue generated in other currencies into dollars at favorable rates.

NEW YORK: Omnicom Group, the largest marketing holding company, said last week that it saw its PR revenue rise by 9.5% during the final quarter of 2003, compared with the same quarter in 2002. While the jump seems to show renewed strength for the firm's PR holdings, at least some of the rise seemed to come from the US dollar's recent weakness against other currencies, which allows multinational firms like Omnicom to convert revenue generated in other currencies into dollars at favorable rates.

For the entire year, Omnicom's PR holdings, which include several of the world's largest firms, posted revenues of $955.1 million, representing a 3.7% jump from 2002. Omnicom's PR holdings include Porter Novelli, Fleishman-Hillard, and Ketchum, as well as specialty firms Brodeur Worldwide, Clark & Weinstock, Gavin Anderson & Co., and Cone.

Overall, Omnicom seemed to post strong results. For Q4, the firm said net income rose 9.8% to $221.3 million from the $201.5 million it posted during the same period a year earlier. Revenue grew to $2.5 billion from $2.12 billion. The firm also said US revenue rose 15% to $1.3 billion.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in