Interpublic Group has released its global third quarter results for 2017 that show revenues were down but profits were slightly up.
The company’s expected full-year revenue has decreased from between 3-4 per cent to just one-two per cent.
Revenues for its international business (Australia is lumped in with its Asia-Pacific reporting) were down 1.3 per cent to $US$746.6 million.
However, profit for the three months ending 30 September was $US148.8 million, up 12.1 per cent from $US132.7 million in 2016.
IPG’s Australian agencies include UM, McCann, 303 Mullen Lowe, R/GA and Initiative, however it was the UK and the US which starred, their profits up three and 1.3 per cent respectively.
Commenting on the results, IPG’s chairman and chief executive, Michael Roth (main photo), admitted that “organic revenue was negatively impacted by broader trends that are being felt throughout much of the industry”.
Roth added that the group’s staff “remain among the best in their respective disciplines, which gives us confidence in the long-term competitiveness of our offerings and our client-centric service model”.
The company had to adjust its projections had to be adjusted due to “client caution and the macro environment,” Roth said.
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