Interpublic Q4 Profits Surge 35%

01 March 2001

Interpublic, the planet’s third largest advertising group [after WPP and Omnicom] reported a fourth quarter increase in EBITDA (earnings before interest, taxes and amortization) to $144.8m, or 46 cents per diluted share.

This compares with $107.3m (35 cents) for the same period in its last fiscal - but despite the buoyant result Interpublic expects ad revenues in 2001 to slow, reflecting the general economic malaise.

Nevertheless, the group predicts it will achieve double-digit growth in earnings per share for the upcoming fiscal, although year-on-year revenue comparisons will be difficult given that 2000 income was boosted by dotcom, political and Olympics-related promotions.

News Source: CampaignLive (UK)