Interpublic Group’s revenues fell 4.1% year on year in the three months to December.
The group’s revenues dropped to $1.9 billion (£1.33 billion) in the fourth quarter. US operations saw a 1.9% decline in revenues while there was a 6.3% decline in international revenues.
Michael Roth, Interpublic chairman and chief executive, said: “The latter part of the fourth quarter and the early part of 2009 have begun to show the negative effect that the broader economic situation is having on the marketing services sector.
“Our long-standing conservative approach to financial and balance sheet management has us well positioned for these volatile times.”
Interpublic’s full year 2008 results show that profit in the fourth quarter rose by 22% to $209.8 million, an increase of more than 20% year-on-year.
Revenues grew 6.2% year-on-year to $6.96 billion. On an organic revenue growth basis the group enjoyed a 3.8% increase. Revenue from its US operations were up 3.7% and from international operations up 9.4%.
Roth added: “Our 2008 results were very strong, we posted organic revenue growth that is at the top end of our industry and continued to demonstrate significant improvement in profitability.”
