Omnicom earnings remain flat as revenue rises 12%

NEW YORK - Omnicom Group, owner of the advertising agencies BBDO Worldwide and TBWA\Worldwide, saw net income rise by the smallest margin to $128.58m for the first quarter of the year, after a strong rise in revenues.

Net income for the same period in 2002 was $128.57m (拢80.86m), and earnings per share rose by one cent in 2003 to 69 cents.

Worldwide revenue was up by 12% to $1.9bn from $1.7bn in the first quarter of 2002, bolstered by an 18% jump in non-US revenue to $837.6m, compared with $710.3m last time.

In February, Omnicom, headed by chief executive John Wren, said it may have to make job cuts in Europe after a 19% fall in profits.

Shares in the company rose by 45 cents or 0.7% to $63.74, when the New York Stock Exchange opened this morning.

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .

Topics