NEW YORK: Despite the US economic downturn and fears of a (whisper it)recession, the world's number one advertising conglomerate, Omnicom Group, has unveiled strong fourth quarter results.

Net profits climbed more than 13% to $314 million (€215.8m; £160.5m) while revenues increased 12.7% to $3.62 billion, compared with the year ago period and ahead of analysts' expectations.

The figures for the full year showed a net income increase of 13% to $976m, while sales rose almost 12% to $12.7bn. 

Overseas revenues rose around 16% during Q4 and for the whole of 2007. Domestic revenues improved 9.5% for the three months ended 31 December and just over 8% for the 12-month period.

Ceo John Wren (pictured) noted that clients had not made any major cutbacks in marketing spend, but conceded that some were "a little bit nervous about the economy".

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