Omnicom profits up

NEW YORK - Omnicom, the parent company of OMD and PHD, has reported a double-digit increase in profit for the first quarter of 2007.

The company, which is listed on the New York Stock Exchange, recorded $183m in net income for the three months ended 31 March, a 10.4% increase from $165.7m a year ago.

Worldwide revenue increased by a similar percentage margin, from $2.56bn in first quarter 2007 to $2.84bn today.

Omnicom operates in more than 100 countries, including the UK, and its businesses span the marketing sector, including advertising, digital, direct marketing and public relations, as well as media.

The US accounted for $1.54bn of revenue, up 7.7% year on year, while international business brought in earnings of $1.30bn, up 14.8%.

 

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