Omnicom PR revenue down 3.8% in Q3

Revenue for the holding company as a whole was up 2.2% organically in the period.

Karen van Bergen, CEO of Omnicom Public Relations Group
Karen van Bergen, CEO of Omnicom Public Relations Group

NEW YORK: Omnicom Group’s PR firms reported an organic revenue decrease of 3.8% in Q3 to $337.2 million.

The percentage increase was compared with Q3 2018, which was up 2.3% 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 2.2% organically to $3.6 billion compared with Q3 2018, but down 2.4% 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 decreased by 5.7% to $473.3 million in the period, while net income fell by 2.9% to $290.2 million.

Omnicom’s other business segments achieved organic revenue gains in the quarter, barring CRM execution and support, which saw a revenue drop of 1.5% to $337.4 million. Advertising was up 3.4% to $2 billion, while CRM consumer experience increased 1.8% to $636.4 million, and healthcare grew 9.5% to $285.6 million.

In Q3, broken down geographically, U.S. organic growth for Omnicom’s overall business was up by 2.7% to $1.99 billion, U.K. revenue increased by 3% to $346.1 million and the Asia-Pacific market was up slightly by 0.4% to $418.9 million. Latin American revenue increased 6.6% organically to $100.2 million, and the Middle East and Africa decreased 4.5% to $59.6 million in Q3.

Omnicom PR Group CEO Karen van Bergen referred inquiries seeking comment to the holding company earnigns call. 

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