Omnicom reveals 11% rise in profits to $162m

by Staff, Brand Republic 25-Oct-05, 12:30

NEW YORK - Omnicom, which owns the DDB, BBDO and TBWA\Worldwide advertising networks, has revealed a profit rise of 11% in its latest quarterly figures.

The figures for the third quarter of 2005 show that earnings at Omnicom, led by chairman and CEO John Wren, rose to $161.7m (£91m), or 90 cents a share, from $145.3m a year earlier. According to Reuters, analysts had forecast profit of 87 cents a share.

The figures reveal that worldwide revenue was up 9% to $2.5bn from $2.3bn in the same quarter the previous year, and net income for the nine months ending September 30 increased 11% to $538.1m from $487m for the same period in 2004.

Worldwide revenue for the nine months ending September 30 2005 was up 8% to $7.5bn from $7bn in the same period in 2004.

This latest profits boost follows the acquisition of brand licensing agency The Beanstalk, which was formerly owned by the Ford Motor Group and has clients including Ford, Harley Davidson and AT&T.

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