Interpublic Group recorded profits of $137 million (£67.8 million) for the second quarter of 2007.
The group’s revenue was $1.65 billion in the second quarter, whilst first-half revenue was $3.01 billion.
Organic revenue increased 6.6% compared to the second quarter of 2006, due to higher revenue from existing clients and net client wins. For the first half of 2007, organic revenue increase was 4.3% relative to 2006.
Operating income in the second quarter of 2007 was $145.6 million, compared to $76.9 million in 2006. For the first half of 2007, operating income was $21.4 million, compared to a loss of ($82.7) million in 2006.
Michael Roth, chairman and CEO and of Interpublic, said: “The second quarter saw Interpublic perform at the highest level in many years. These results are encouraging and should serve to validate our belief that we have the company on the right track. Improved organic growth demonstrates that our focus on attracting and developing talent, as well as strategically realigning our capabilities, is paying dividends in the marketplace. We have also shown progress in improving profitability.
“The quarter is a testament to the real potential of our company. We continue to drive the organization toward achieving our 2008 goals, although recent client reversals and the accelerating pace of change in our industry represent additional challenges that we must overcome in order to achieve those targets.”
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