Interpublic profitable for the first time in six years

Marcoms conglomerate Interpublic has surpassed analyst expectations, reporting its first profitable year since 2002 with an organic revenue growth of 3.8 per cent year on year.

Roth: Interpublic back on track
Roth: Interpublic back on track

The parent company of PR agencies Golin Harris, Weber Shandwick and Rogers & Cowan posted a share price of 31 cents on Friday, up from 11 cents a year earlier.

Interpublic attributed its success to 'expanding business with existing clients', as well as 'winning new clients in advertising and public relations and completing several projects within the events marketing business.'

Group CEO Michael Roth predicted a growth of around 8.5 per cent for 2008, with 'no evidence of a pullback' despite widespread recession fears.

The marcoms group has also overhauled its internal finances, complying with the Sarbanes-Oxley act for the first time.

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