Omnicom Global Income Rose 10% in Q1

26 April 2006

Robust results stateside helped lift Omnicom Group's first quarter global net income by 10% to almost $166 million (€133.74m; £92.86m).

Total revenues at the globe's largest marketing services group rose seven percent year-on-year to $2.56 billion. Of this figure, over $1.4bn was earned stateside and $1.13bn overseas - an improvement of 9% on the same period last year.

Ceo John Wren told analysts in a conference call: "We're very pleased with the company's performance in the first quarter. The momentum from last year is continuing in the first four months of 2006."

He specifically mentioned as a catalyst for growth during Q1 the acquisition of the $398m Bank of America account, won in September 2005.

Traditional advertising revenue rose more than 5% during the period, lagging customer relationship management activity which rose by 10%. Income from specialty marketing services increased by over 7%, while public relations inched-up 2%.

Based on Q1 revenues, Omnicom and WPP Group (which last week reported revenues of $2.6bn) are running neck and neck for the title of global number one agency holding company.

Data sourced from AdWeek (USA); additional content by WARC staff