Interpublic Group (IPG) has something to cheer about after reporting strong financial results for the first half of the year.
The company’s net revenue increased 6 per cent to US$3.72 billion in the six months to 30 June 2018, compared to US$3.51 billion in the first half of 2017, with an organic net revenue increase of 4.7 per cent compared to the prior-year period.
This was comprised of an organic net increase of 4.5 per cent in the US and 5.1 per cent internationally.
In breaking down the international organic net revenue growth, the Asia-Pacific came last (1.9 per cent) behind the UK (14.7 per cent), Continental Europe (11.7 per cent) and Latin America (4.6 per cent).
The solid first-half results were helped by a positive second quarter, with net revenue increasing 6.2 per cent to US$1.95 billion, compared to $1.83 billion in the second quarter of 2017. Organic net revenue was up 5.6 per cent in Q2 compared to the prior-year period.
IPG chairman and CEO Michael Roth said: “We are extremely pleased with our performance this quarter. Growth in the US continued to be strong and international growth accelerated.
“The results were led by exceptional performance in media and at our creatively-led integrated agencies, as well as contributions from our digital services, public relations, events and sports marketing.
“Our results year-to-date, coupled with our expectations for the remainder of the year, have led us to increase our organic growth target, and we now expect to deliver net revenue organic growth of 4 to 4.5 per cent in 2018.
“We remain committed to furthering our long-term record of margin expansion with 60 to 70 basis points of improvement, as targeted coming into the year.
“We view our current performance and long-term strategy as significant factors that will continue to further value creation and enhance shareholder value.”
IPG’s results come shortly after it announced it would acquire Acxiom’s marketing solutions business for $US2.3 billion.
The results also in contrast to those from rival holding company Publicis, which delivered some not so good news for its shareholders last week.
The brainchild of co-founders Gina Williams-Folau (main photo) and Greer Bland, the talent agency Liquorice was born out of a desire to make things easier for brand managers. Liquorice offers social talent for brands wanting to hit the sweet spot with Kiwi audiences. Launching with a roster of big names on board including Millie Elder-Holmes, Athena […]
9000 Western Australians experiencing homelessness are about to face cold winter nights. To call for donations to the 2021 Winter Appeal, Anglicare WA has released a chilling video with renowned actor Liam Graham, best known for his starring roles in Greenfield and The Heights, experiencing mild hypothermia after spending one hour in a commercial freezer. […]
Blackmagic Design has shared how its products were used to shoot the latest commercial campaign for Chris Hemsworth’s fitness training app, Centr. The new campaign, which promotes the progressive 10 week workout plan ‘Power’ replicates the same protocols used to prepare the actor for his latest appearance in the upcoming Marvel franchise film, Thor: Love […]