Interpublic's CMG Revenues Down Close to 10% in Q4
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Interpublic's CMG Revenues Down Close to 10% in Q4

The Interpublic Group of Companies—parent to Weber Shandwick, GolinHarris, MWW, DeVries and other public relations brands—saw its revenues for 2009 decline by close to 11 percent, from $6.96 billion in 2008 to $6.03 billion.

Paul Holmes

NEW YORK—The Interpublic Group of Companies—parent to Weber Shandwick, GolinHarris, MWW, DeVries and other public relations brands—saw its revenues for 2009 decline by close to 11 percent, from $6.96 billion in 2008 to $6.03 billion, following a fourth quarter decline of 8.2 percent, from $1.9 billion in 2008 to $1.8 billion.

 

The company’s Constituency Management Group, which includes both public relations and special events brands, experienced a fourth quarter revenue decline of 9.7 percent in organic revenues, with a decline in PR revenues in the mid-single digits and chairman and CEO Michael Roth indicated that he believed the group’s PR firms had picked up market share during the downturn.

 

Roth also indicated some optimism regarding a turnaround in 2010: "Looking forward, economic conditions appear to have stabilized, clients are beginning to re-focus on their brands and the tone of the business is one of cautious optimism…. Last year our agencies received a degree of industry recognition and honors, across all marketing disciplines, that is unprecedented for our company. The strength of our professional offerings positions us to grow in step with a broader economic recovery. "

 

The company saw fourth quarter profits decline by 38 percent, while for the year the company posted a profit of $93.6 million, down from $265.2 million in 2008.

Interpublic shares jumped 13 percent on the news.

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