Omnicom announces rise in PR revenues

NEW YORK: Omnicom Group said on Tuesday 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 would seem to demonstrate renewed strength in the company?s PR holdings, it is unclear how much of the increase came from recent weakness of the US dollar.

NEW YORK: Omnicom Group said on Tuesday 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 would seem to demonstrate renewed strength in the company?s PR holdings, it is unclear how much of the increase came from recent weakness of the US dollar.

For the entire year, Omnicom?s PR holdings, which include several of the world?s largest PR firms, posted revenues of $955.1 million, representing a 3.7% jump from 2002. The company also said that PR revenue represented 9.9% of Omnicom?s total revenue during the fourth quarter of 2003, and 11.1% of the conglomerate's total revenue for all of 2003. 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 appeared to post strong results. For its fourth quarter, Omnicom said that net income rose 9.8% to $221.3 million from $201.5 million during the same period a year earlier, while revenue grew to $2.5 billion from $2.12 billion. The company also said its US revenue rose 15% to $1.3 billion.

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