By Arun Sudhaman
NEW YORK: Omnicom Group, the owner of PR agencies Fleishman-Hillard, Ketchum Pleon and Porter Novelli, reported solid organic PR revenue growth of 5.8 per cent in the second quarter of 2010.
The results meant that PR growth outstripped the 3.4 per cent increase recorded by the group’s massive advertising unit. For the first half of the year, PR revenues grew by 4.1 per cent, excluding acquisition revenue and foreign exchange impact.
Omnicom’s PR unit was particularly hard-hit in 2009, with revenues slumping by 15 per cent.
In an earnings call, Omnicom CEO John Wren said that, “PR also showed fairly strong growth in the quarter.”
Wren further disclosed that Omnicom had reappointed Dara Akabarian to spearhead the group’s acquisition efforts in Asia. “As we’ve said in the past we expect to see more activity going forward especially in markets like Asia,” said Wren.
PR revenues reached $566.7 million in the first half of 2010, and $291.1 million in the second quarter of the year. Overall Q2 revenues grew by 5.9 per cent to $3.04 billion.