MDC PR unit grows 15.9% year-over-year in Q3

NEW YORK: MDC Partners' strategic marketing services unit, which contains its PR agencies, reported revenue of $203.4 million in the third quarter of 2013, representing 15.9% organic growth year-over-year.

NEW YORK: MDC Partners' strategic marketing services unit, which contains its PR agencies, reported revenue of $203.4 million in the third quarter of 2013, representing 15.9% organic growth year-over-year.

The unit grew 14% organically to $587.5 million in revenue in the first nine months of the year.

MDC, which owns majority stakes in Allison+Partners, HL Group, Attention, and Kwittken + Company, among others, reported 9.3% overall organic revenue growth in the third quarter to $288.9 million.

The company saw a net loss of $19.3 million in the quarter, versus a loss of $13.2 million in Q3 of 2012. It also reported an operating profit of $1.2 million in the three-month period ending September 30, compared with an operating profit of $2.2 million in the same period of the previous year.

For the first nine months of 2013, the holding company grew 9.4% organically to $842.5 million in revenue.

MDC also reported a net loss of $50.1 million for the first nine months of 2013, compared to a loss of $55.7 million for the same period in 2012.

The company posted an operating profit of $39.8 million in the nine-month period ending September 30, versus an operating loss of $8.8 million for the same time frame last year.

Net new business wins in Q3 totaled $34.2 million and $107.5 million for the first nine months of the year.

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