IPG Posts 7.9% Organic Growth In Q2

IPG Posts 7.9% Organic Growth In Q2
SHARE
THIS



IPG has announced it has posted 7.9 per cent year-over-year organic net revenue growth in the second quarter of 2022 to $US2.38 billion ($A3.44 billion.)

It comes on the same day that rival agency Publicis Groupe announced its organic growth was up 10.3 per cent. Read B&T’s reporting of that HERE.

The US was IPG’s strongest performing market, its organic revenues up 8.8 per cent. APAC – were Australia is reported – was up 4.8 per cent. COVID-hit China was the only IPG market to go in reverse.

The results led IPG to raise its 2022 growth forecast from six per cent to 6.5 per cent.

Commenting on the numbers, Philippe Krakowsky (lead image), CEO of IPG. said: “As expected…that is below last year’s second quarter [margin]…when our growth had begun to accelerate very significantly, yet certain variable expenses were historically low due to the effects of the pandemic.”

The agency’s margins fell to 15.6 per cent (they were 17.9 per cent in 2021) namely due to salary increases, office reopenings and staff travel. Krakowsky announced that overall staff numbers had increased by a whopping nine per cent YOY.

“Pressure on labor markets…hasn’t fully abated, but it’s definitely slowing,” Pressure on labor markets…hasn’t fully abated, but it’s definitely slowing,” Krakowsky said.

“Our comps are very challenging, and I’ll take that,” he said. “A lot of that is just the math, and I’d reiterate that the momentum in the business is healthy and the demand for what we do is healthy,” he added.

 

 

 

 

Please login with linkedin to comment

Philippe Krakowsky

Latest News

Why Are We Still Banging Our Heads Against The Glass Ceiling?
  • Media
  • Opinion

Why Are We Still Banging Our Heads Against The Glass Ceiling?

In this guest post, Azadeh Williams, the founder and managing director of AZK Media. Candidly shares with B&T how she’s gone up against the glass ceiling and what she has learned. Williams (main photo) has consistently been recognised as B&T’s Women in Media and Women Leading Technology. She’s a force within the industry, with a […]

InsideOut PR Wins Prestige InHome Care Account
  • Media

InsideOut PR Wins Prestige InHome Care Account

Sydney PR agency InsideOut PR has been appointed for Prestige InHome Care, an in-home aged care service with a focus on media relations. InsideOut PR worked with Prestige Inhome Care back in 2013 and again in 2017 launching their public relations and advertising program; and supporting their growing profile in the market. Founder and CEO […]

We Are Social Names Susie Hogarth As Global Head Of Cultural Insights
  • Technology

We Are Social Names Susie Hogarth As Global Head Of Cultural Insights

We Are Social is bolstering its cultural insights offering with the promotion of Susie Hogarth (lead image) to the role of global head of cultural insights. Hogarth, the former senior research and cultural insights director for We Are Social UK, takes over the global role from Lore Oxford who has left the company. Hogarth will […]

Blockheads Rejoice! The Official Block Podcast Is Here
  • Media

Blockheads Rejoice! The Official Block Podcast Is Here

In the wake of The Block returning on Sunday night, 9Podcasts has announced the launch of The Official Block Podcast, hosted by Shelley Craft. The new production will run alongside the 18th season of The Block, in which five teams must each build a 500-square metre homestead, with a room reveal every Sunday night. The […]

Behaviour Change – Expecting The Unexpected
  • Marketing
  • Partner Content

Behaviour Change – Expecting The Unexpected

Here's pro tips for brands looking for behavioural change. Could possibly also work on lazy, cleaning-phobic partners.

Partner Content

by B&T Magazine

B&T Magazine
TBWA\Melbourne, Thinkerbell & More Announced As Finalists For The Rigg Design Prize 2022
  • Media

TBWA\Melbourne, Thinkerbell & More Announced As Finalists For The Rigg Design Prize 2022

The first major exhibition of advertising and communication design in the NGV’s history, The Rigg Design Prize 2022 highlights the creativity underpinning the work of eight leading Australian-based agencies. For the exhibition, each agency will develop a suite of campaign assets – including billboards, street posters and moving image – to celebrate how creativity can […]

Queen Charles Launches In Sydney, Aiming To Shake Up The Consultancy Market
  • Marketing

Queen Charles Launches In Sydney, Aiming To Shake Up The Consultancy Market

After 11 months of quietly building up their new business Queen Charles, Alex Carr (pictured, left) and Jon Kelly (pictured, right) have finally found enough time to launch their brand and experience consultancy to the wider market. Based in Sydney, Queen Charles aims to help businesses of all shapes and sizes consistently stand out and […]

Michael Bass Named New Chief Trading Officer For Dentsu APAC
  • Media

Michael Bass Named New Chief Trading Officer For Dentsu APAC

Dentsu International has announced the appointment of Michael Bass (pictured) as chief trading officer, media, Dentsu Asia Pacific. With over 20 years’ experience, Bass’ career has included a range of senior investment and trading roles across the media sector. Bass spent seven years at IPG Mediabrands as trading director of Initiative and subsequently moved on […]