NEW YORK: Strong international growth helped Omnicom Group achieve another set of robust numbers, posting a 10% hike in net profits for the first quarter of 2007 and bettering analysts' consensus expectations.
Net income for the three months to March 31 rose to $183 million (€134.34m; £91.37m) from $165.7m in the year-ago period. And since the earlier period included an exceptional benefit of £2m, an even rosier light is cast on the group's performance.
Omnicom also benefited from the same factor that depressed WPP Group's results last week - the ongoing weakness of the US dollar. This boosted the earnings of Omnicom's overseas units, which generated a 15% rise in revenues - double those of its US assets which rose 7.7%.
The steady hand of president/ceo John D Wren (pictured above) on the Omnicom tiller earned him $13.2m last year - just $1m of which came in salary.
Data sourced from Wall Street Journal Online. additional content by WARC staff