IPG has posted 3.3 per cent organic net revenue growth for 2019, beating its two to three per cent target.
The holding company’s full year net revenue $8.63 billion ($AU12.8B), compared to $8.03 billion in 2018.
This was comprised of an organic net revenue increase of 1.9% in the U.S. and 5.5 per cent internationally. Full year 2019 total revenue was $10.22 billion, compared to $9.71 billion in 2018.
CEO Michael Roth (feature image) said the company is “pleased” with the “strong performance” for both the fourth quarter’s 2.9 per cent growth and the full year’s earnings.
He said: “We are pleased to report strong fourth quarter performance, as well as full-year financial results that deliver on our targets. Our results again demonstrate the strength of our client-centric, integrated model, and the quality of our offerings.
“As we turn to our outlook for 2020, our first thoughts are ones of concern and support for our people, clients, and partners in China, and for everyone around the world contending with the coronavirus outbreak.
“We are closely monitoring the situation and are focused on the well-being and safety of our people, and are taking appropriate steps to protect them during this difficult period,” he added.
Roth said that IPG is targeting organic revenue growth of three per cent for 2020.
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