Interpublic has announced that its third quarter 2007 revenue has reached $1.56bn, compared to $1.45 billion the same period a year ago, whilst its revenue for the first nine months of 2007 was $4.57 billion, compared to $4.31 billion in 2006.
Organic revenue increased 5.7% compared to the third quarter of 2006, due to higher revenue from existing clients and net client wins. For the first nine months of 2007, organic revenue increased by 4.8% relative to 2006.
For the third quarter and the first nine months of 2007, the company achieved very strong organic revenue growth in the US, reflecting increased spending from existing clients and net client wins primarily in advertising and public relations.
Michael Roth, Interpublic chairman and CEO, said: “For the third quarter and year-to-date, our results showed continued improvement in terms of both organic revenue growth and operating performance. We continue to see the benefits of strategic actions taken in 2006 and 2007, as well as of the financial systems and disciplines being put into place across the organization.
“The increasingly competitive client offerings at all of our companies give us confidence in our future growth prospects. We will continue to push for double digit margins, but we expect to post operating margin of between 8.5% and 9% in 2008 – a dramatic improvement over the negative 1.7% the company reported less than two years ago.”
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