Omnicom declares 'cautious optimism' as revenues rise 6%

LONDON - Omnicom's first quarter revenues rose 6.3% to $2.92bn (£1.9bn), although profits slipped back marginally.

Omnicom: group revenue up 6%
Omnicom: group revenue up 6%

International revenue climbed 9.3% to $1.33bn, while domestic revenue rose 3.9% to $1.59bn. Reports put the company's organic growth figure at 2.1%.

However, net income slipped by 0.6% to $163.4m (£106.2m).

The group, which owns agency networks such as DDB, BBDO and OMD, saw its share price rise to a 12-month high of $43.91 after its results release.

John Wren, chief executive, said on a conference call: "The general business environment continues to stabilise and improve and, as we look at individual countries and regions, we are cautiously optimistic about continued growth."

The US group's results follow , which showed a 1.5% year-on-year rise in organic growth.

Omnicom's close rival WPP is set to reveal its first quarter figures on 30 April.

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