IPG's CMG posts Q1 revenue increases, organic growth

NEW YORK: Q1 revenues for Interpublic Group's (IPG) Constituency Management Group (CMG) rose 4.9%, from $227.8 million to $238.9 million year-on-year.

NEW YORK: Q1 revenues for Interpublic Group's (IPG) Constituency Management Group (CMG) rose 4.9%, from $227.8 million to $238.9 million year-on-year. The increase was offset by the MWW buyout in January and other dispositions, said Harris Diamond, CEO of CMG.

Meanwhile, CMG's organic growth increased 7.8%, according to its earnings report released today.

Diamond said PR, in particular, saw an 8% increase in revenues for the quarter. CMG includes PR agencies such as Weber Shandwick and GolinHarris, as well as events firms and experiential marketing companies.

"It's a great time for PR fundamentally," he added. "Consumer, healthcare, and tech were the standouts."

Diamond noted standout Q1 account wins including the US Army, as well as additional business for the Microsoft account in the US, and a number of wins across Europe.

Overall, IPG posted a revenue increase of 10.3%, up $1.47 billion, compared with Q1 in 2010. Revenues in the US were $865.3 million, up from $803.1 year-on-year. Internationally, Q1 revenues were $609.5 million, up from $533.9 million. Meanwhile, organic growth was 8.8% in the US and 10.2% internationally.

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