Omnicom nearly back to 2008 profit heyday
Omnicom is getting closer to regaining the $1bn (£638m) annual net income level it hit before the global financial crisis, as profits climbed 15%, helped by double-digit revenue growth in the UK.
John Wren: president and chief executive of Omnicom
In 2008, Omnicom racked up net income* of almost exactly $1bn on revenues of $13.4bn (£8.5bn), but the ensuing downturn bit a fifth off its bottom line the following year.
Its revenues are now higher than in 2008, having risen 10.6% on 2010 to $13.9bn (£8.8bn), although the same cannot be said for net income, up 15.1% to $952.6m (£607m).
The owner of creative networks TBWA, DDB and BBDO, and media powerhouses OMD and PHD, put in a strong performance in the UK, despite the relative lack of growth in the country's ad market.
UK revenues for 2011 were up 12.5% year on year, and up 7.9% on an organic basis, to $1.2bn (£763m).
On both measures the UK outperformed the US and Euro currency markets, although it accounts for less than 9% of overall revenues.
The rest of the world, which Omnicom groups together, grew revenues by 30.7% and by 12.3% on an organic basis, to $3bn (£1.9bn).
Last week, Omnicom's French rival Publicis Groupe revealed it had made 2011 revenues of €5.8bn (£4.9bn), up 7.3% on 2010.
*Net income after subtracting net income attributed to non-controlling interests
Follow Daniel Farey-Jones on Twitter @danfareyjones
This article was first published on campaignlive.co.uk
Latest jobs Jobs web feed
- Business Development Executive Bullfrog Digital LTD Up to £30k + Commission and benifits, Shoreditch
- Head of Strategy, Insight & External Relations London & Partners COMPETITIVE + PRP + BENEFITS, London Bridge
- Senior Account Manager Hot Cow Between £32,000 - £35,000 with discretionary bonuses., Near Chiswick Business Park, a fun and vibrant location to work with events, a lake and bars.
- Project Manager - Integrated / Digital - Superb London Agency Fill Recruitment Ltd £40k - £50k plus bonus and superb benefits!, Central London
- Retail Marketing Manager EMEA Callaway Golf Europe Ltd circa £50,000 pa plus benefits, based in Chessington, Surrey
- Assistant Marketing Manager Major Players £30000 - £32000 per annum, Slough