Interpublic confirms September 30 for delayed results release

NEW YORK - Interpublic Group has confirmed that it expects to file long-delayed 2004 results on Friday, September 30, and that it will hold a conference call for investors at the same time.

The company will release results from 2004 and the first half of 2005, as well as restating earnings dating back to 2000.

In a release this morning, the company said that the call will start at 8am Eastern Time (1pm BST), and that it would outline its restatements.

Interpublic has already revealed this month that its investigations into its finances have revealed instances where employees had falsified records. These employees had either been fired or were in the process of being terminated, Interpublic said.

It was later revealed that some of these irregularities included the practice of keeping rebates paid by media owners for buying large shares of media space on behalf of clients. It is now considering returning rebates to clients, Brand Republic's sister title Media Asia has reported.

Interpublic's share price improved this morning on the news, rising by three cents to $11.18.

The company faces the distant threat of being broken up after a small shareholder tabled a proposal that said Interpublic should be sold off promptly.

Interpublic had tried to get the proposal barred from discussion at its annual general meeting, but the US financial regulator refused its request.

Interpublic owns agencies including McCann Erickson, Universal McCann and Lowe Worldwide.

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