Omnicom PR revenue up 2.3% in Q3

The holding company beat expectations with its net income up more than 13% in the period.

Omnicom PR Group CEO Karen van Bergen
Omnicom PR Group CEO Karen van Bergen

NEW YORK: Omnicom Group’s PR firms reported an organic revenue increase of 2.3% in Q3 to $356 million.

The percentage increase was compared with Q3 2017, in which it was down 0.4% from the year prior.

The holding company owns and operates PR firms including FleishmanHillard, Ketchum, Marina Maher Communications, and Porter Novelli.

Revenue for the holding company as a whole was up 2.9% organically compared with Q3 2017 to $3.7 billion, but down 0.1% on a non-organic basis in the period. (Organic revenue growth represents change without taking into account the impact of acquisitions and disposals).

Omnicom’s operating profit increased by 6.8% to $502.3 million in the period, while net income grew by 13.4% to $298.9 million.

Omnicom’s other business segments achieved organic revenue gains in the quarter, barring CRM execution and support, which saw a revenue drop of 3.6% to $465.6 million. Advertising was up 4% to $1.9 billion, while CRM consumer experience increased 5.5% to $637.7 million, and healthcare grew 2.9% to $262.9 million.

Broken down geographically, U.S. organic growth for Omnicom’s overall business was up slightly by 0.6% to $1.9 billion; U.K. revenue dropped by 0.3%% to $357.3 million; and the Asia-Pacific market experienced 13.6% organic growth to $437.9 million. Latin American revenue increased 1.7% organically to $102 million, and the Middle East and Africa decreased 0.4% to $63.7 million in Q3.

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