Interpublic reports big rise in revenue during Q3

LONDON - Interpublic Group, parent company of media shop Initiative and ad agency Lowe, posted a 17.6% year-on-year surge in UK revenue in Q3.

Roth: focusing on meeting the needs of clients
Roth: focusing on meeting the needs of clients

The US-listed group said UK revenue totalled $158.2m in Q3, up from $134.5m last year. The company did not detail UK revenue at IPG's individual units such as Universal McCann, PR agency Weber Shandwick and Lowe.

Total Interpublic Group international revenue was up 15.3% to $776.2m, from $673.2m in Q3 last year. Revenue in continental Europe totalled $257.1m in Q3, up 15.8% year on year. International revenue was up thanks to client wins and increased spending primarily in the United Kingdom and Continental Europe regions, IPG said.

Michael Roth, Interpublic Group chairman and chief executive, said that "during the past few weeks, it has become clear that the global financial situation has begun to weigh on marketers' spending plans for both the fourth quarter and 2009. As such, we will continue to monitor broader economic developments and to focus on meeting the needs of our clients and managing our margins".

Interpublic Group has denied it plans to merge its two UK media agencies Initiative and Universal McCann following the former's loss of its flagship £75m Orange media planning and buying account last month.

However, it did move Initiative and Universal McCann into the same London office and appointed an inaugural joint chief financial officer, Colin McReavy, to work across both agencies.

Richard Beaven, chief executive, worldwide, of Initiative, said last month: "IPG has said from the outset that it is committed to building and strengthening its two media brands, Initiative and Universal McCann.

"This remains the case. We are undertaking restructuring across Initiative as part of an ongoing plan to ensure we have the right resources in place to meet future challenges and to succeed as our industry continues to transform."

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