Interpublic announces 14.5 per cent fall in revenue for Q2 2009

IPG

Ian Darby

July 28, 2009

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Interpublic announces 14.5 per cent fall in revenue for Q2 2009

LONDON - Interpublic has announced that its second-quarter revenues fell by 14.5 per cent due to the global downturn and a decline in spend from clients in the automotive sector, such as General Motors.

IPG’s second-quarter revenues were $1.47 billion, compared with $1.84 billion in the second quarter of 2008.

Revenues for the first six months of the year were down by 10.5 per cent to $2.8 billion.

IPG said that its net loss for the year to date has reached $39.2 million as market conditions led the owner of networks including McCann Erickson, Lowe Worldwide and Universal McCann to make cutbacks.

Michael Roth, the chairman and chief executive of IPG, said: "We have responded to the difficult market conditions with effective cost control across the organisation."

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