Interpublic global revenue grows 6.2%

LONDON - Interpublic Group, parent to Universal McCann and Initiative, has posted revenue growth of 6.2% for 2008, with an 8.5% operating margin, in line with company objectives.

Focused: Michael Roth, group chairman and chief executive, Interpublic
Focused: Michael Roth, group chairman and chief executive, Interpublic

Full year revenue for the communications group, which also houses advertising agencies Draftfcb, Lowe Worldwide and McCann Erickson, was $6.96bn, compared to $6.55bn in 2007.

The performance was hailed as "very strong" by Michael Roth, group chairman and chief executive, despite an $80m drop in fourth quarter revenue.

Roth attributed the slowdown to "the negative effect that the broader economic situation is having on the marketing services sector", but said the group's "conservative approach" to financial management meant it was well positioned for these volatile times.

He added: "Given that it's unclear how pronounced or lasting the downturn will be, we must continue to remain focused on the basics: delivering value to our clients and ensuring that we continue to manage to our margins."

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