Omnicom PR revenue up 3.7% despite difficult economic climate

Nicole Zerillo

July 22, 2008

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NEW YORK: Omnicom Group's PR businesses added revenues of $333.4 million in its second quarter ended June 20, 2008, an increase of 3.7% from the same time last year. PR revenues in the second quarter contributed 9.6% to the group's overall earnings while advertising raked in about 43%.

Year to date, PR has generated $648.4 million, resulting in 9.7% of the company's entire earnings, at a growth of 5.3% from the previous year.

Omnicom's PR agencies include BlueCurrent Public Relations, Brodeur Worldwide, Cone, Fleishman-Hillard, Gavin Anderson & Co, GPlus Euruope, Ketchum, Mercury Public Affairs, Porter Novelli, and Clark & Weinstock.

Omnicom reported companywide net income of $307 million on revenues of about $3.5 billion for its second quarter, compared to last year's net income of $276.7 million and revenues of $3.1 billion.

During the earnings call this morning, CEO John Wren noted that the second quarter results met expectations and continued to be robust, even with the challenging operating environment in the US, which accounts for 51.1% of the company's revenue.

Year to date, the company's net income is $515.6 million on revenues of $6.7 billion, a slightly more than 12% increase in income.

From the July 28, 2008 Issue of PRWeek

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