Interpublic delivers solid growth in fourth quarter
Worldwide revenues for the Interpublic Group of Companies increased 6% during the fourth quarter of 2000 to $1.6bn (£1.2bn) from $1.5bn (£1.1bn) in 1999.
LONDON (Brand Republic) - Worldwide revenues for the Interpublic Group of Companies increased 6% during the fourth quarter of 2000 to $1.6bn (£1.2bn) from $1.5bn (£1.1bn) in 1999.
Net income advanced 35% to $144.8m (£100.29m) before non-recurring items, which the group attributed to strong margin performance driven by cost controls.
Full-year results showed that net income grew 24% to $473.2m (£327.75m), from $382.7m (£265.07m) in 1999.
During the 12 months, new billings totalled $2.56bn and included work from Microsoft, Pfizer, 3Com, the US Navy, H&R Block, Merrill Lynch/HSBC, Kohl’s and H&M. In 1999, net new business was $1.8bn
John Dooner, chairman and chief executive officer of Interpublic, said, “Interpublic delivered solid organic revenue growth and strong margin performance in the fourth quarter, despite difficult comparisons at Lowe Lintas and Initiative Media. Our challenge in 2001 will be to accelerate top-line growth across all our businesses, while maintaining our focus on cost containment.”
The group could also be confident of double-digit gains fuelled primarily by organic growth, he added.
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