Rise in US adspend helps push profits up at Omnicom

NEW YORK - The gradual increase in US ad budgets helped push profits at Omnicom up 7% for the third quarter, adding to the positive note struck by rival WPP Group earlier this morning.

Omnicom, the world's largest advertising holding company, headed by president and CEO John Wren, said profits rose to $135.3m (拢79.9) from $126.1m last time.

Worldwide revenue jumped 15% to just over $2bn from $1.8bn in the third quarter of 2002. US revenues were up by 12% to $1.1bn from $991.4m, while international revenue increased by 18% to $917.5m, compared with $777.1m last time.

Profits for the nine months to September 30 increased 3% to $454.6m from $442m. Worldwide revenue for the nine months rose by 13% to $6.1bn and US revenues increased 8% to $3bn.

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