Omnicom posted organic growth of 7.5% in the September quarter confident of the road ahead despite uncertain economic conditions.
Revenue for the three months at $US3.44 billion beat analyst expectations with double-digit organic growth in precision marketing, public relations, commerce & brand consulting and “solid”results across the company’s portfolio broadly.
Operating profit was $US546.0 million.
The company, during a call with analysts, increased its organic growth forecast to 8% to 8.5% for the full year, up from previous guidance of 6.5% to 7%.
The latest result of 7.5% organic revenue growth compared to a high of 11.3% in the June quarter.
CEO John Wren on the September quarter result: “Our experience with challenging economic environments leaves us confident that we can navigate through current business uncertainty.
“One thing remains certain - the path from marketer to consumer is becoming exceedingly complex, and Omnicom has the talent and capabilities to be the trusted advisor to drive success for our clients."
Organic growth by discipline: 5.9% for Advertising & Media, 16.3% for Precision Marketing, 12.6% for Public Relations, 11.1% for Commerce & Brand Consulting, 5.0% for Healthcare, 3.9% for Execution & Support, and 2.3% for Experiential.
And markets: 7.6% for the US, 11.5% for the UK, 6.0% for the Euro Markets & Other Europe, 4.4% for Asia Pacific, 13.1% for Latin America, 7.7% for Other North America, and 12.2% for the Middle East & Africa.
The September quarter numbers:
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