IPG reports 'solid' second quarter with 14% pre-tax profit boost
Interpublic Group's income before income taxes was $168.6 million in the second quarter of 2014, up 14.0 per cent year on year.
Michael Roth: the chief executive of IPG
IPG’s revenue for Q2 2014 was $1.85 billion, up from $1.76 billion in the second quarter of 2014. This equates to a 4.7 per cent rise in organic revenue, year on year. Including acquisitions, revenue increased 5.4 per cent over the period.
Operating income for the second quarter was up 12 per cent on the previous year, from £174.8 million to $195.8 million.
Net income for the second quarter of 2014 was $99.4 million (£58.3 million), up from $79.9 million at the same period in 2013.
The group’s first half revenue for 2014 is $3.49 billion, up from $3.3 billion in the first six months of 2013 and representing organic growth of 5.6 per cent.
In a conference call today, Michael Roth, the chief executive of IPG, described the holding group’s performance as solid and reiterated his commitment to "executing cost discipline".
Despite warning that the second half of the year was not likely to be as strong as the first for IPG, Roth added: "For the full year, we are well-positioned to exceed our organic growth target of three to four per cent and improve operating margin by at least 100 basis points, to 10.3 per cent or better. By doing so, we can build on recent performance and further enhance shareholder value."
This article was first published on campaignlive.co.uk
Latest jobs Jobs web feed
- Regional Corporate Senior Executive - Volunteer Fundraising (Home Based) Cancer Research UK £25000 - £29000 per annum + Car + Excellent benefits, Nationwide
- Regional Corporate Executive - Volunteer Fundraising (Home Based) Cancer Research UK £20000 - £24000 per annum + Car + Excellent benefits, Nationwide
- ACCOUNT DIRECTORS - Integrated/ATL/TTL/BTL/SP/Shopper/Retail - London - up to £50k Judi Patton £40k-£50k plus excellent benefits, London (Central), London (Greater)
- Digital Delivery Manager Cancer Research UK £35000 per annum + excellent benefits, London
- BTL AGENCY ACCOUNT HANDLERS - integrated, shopper, sales promotion, retail, digital Judi Patton £22K-£55K, London (Central), London (Greater) / London (East), London (Greater) / London (North), London (Gr...
- Client Partner The Great & The Good £80000 - £90000 per annum + significant benefits, London