Omnicom today announced that net income for Q1 2004 has increased by 17% to $135.6 million from $115.5 million for the same period last year. This is the second strong quarter in a row for Omnicom who posted a 10% growth in Q4 2003 (see Omnicom Posts 18% Revenue Rise As Markets Improve), signaling that ad spending is continuing to improve.
Non-US business experienced the greatest revenue increase of 21% to $1.01 billion, up from $837.6 million while domestic revenue increased by 11% to $1.2 billion.
John Wren, Omnicom, president and ceo said: “We’re very pleased with our performance in the first quarter. For the first time in nearly three years advertising and speciality advertising all performed well and contributed to our overall growth.”
He added: “Asia, North American and South America were strong across the board showing improvements in the economies in those regions. Growth in Europe slowed, specifically, revenue’s in Germany and France were flat.”
Related Links
