The world’s second-biggest advertising company announced UK organic growth for the first quarter of 2017 was up 8.1% year on year, compared to 8.2% in the Euro markets and other Europe.
Omnicom’s organic growth was 1.1% in North America – its worst performing region over the same period – compared to 5.4% in Latin America and 37.9% in the Middle East and Africa.
The company’s worldwide revenue for the quarter increased 2.5% to $3.59bn (£2.84bn). This was partially hit by a relative strengthening of the dollar. Omnicom said the negative foreign exchange impact was 1.2%.
Advertising was the highest growing part of Omnicom’s business over the quarter – up 6.4% – followed by speciality communications (3.3%), CRM (2.1%) and PR (1.8%).
Meanwhile Omnicom’s operating profit was up 4.5% year on year to $409.9m.
During the first quarter TBWA bought a majority stake in independent creative agency Lucky Generals, while earlier this month media shop Goodstuff Communications bought Omnicom’s 20% stake to become fully independent.
On the new-business front, Omnicom's PHD was told in February that it had lost Sainsbury's £100m media business to M/Six. The review was restarted last month after PHD protested.
Today’s first quarter results were ahead of investors’ expectations, Press, after Omnicom announced it had net income of $1.02 per share, compared to Zacks Investment Research’s expected 96 cents per share. Omnicom’s shares have increased 1% since the beginning of the year.
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