Public Relations Rebound Continues at Interpublic
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Public Relations Rebound Continues at Interpublic

Interpublic provided more evidence this week of a robust rebound in the fortunes of the public relations agency business, announcing that revenues at its Constituency Management Group were up by 7 percent in the second quarter of 2010.

Paul Holmes

NEW YORK—Interpublic provided more evidence this week of a robust rebound in the fortunes of the public relations agency business, announcing that revenues at its Constituency Management Group—the division that includes PR firms Weber Shandwick, GolinHarris, MWW, DeVries Public Relations and more—were up by 7 percent in the second quarter of 2010, from $226.2 million last year to $242 million.

 

The CMG, which also includes the group’s event management business, reported $463.8 million in revenue for the first half of the year, up 6.2 percent over the first half of 2009.

Harris Diamond, who serves as CEO of the CMG as well as of Weber Shandwick, said the group’s PR operations were ahead of forecast, although he indicated that there was some continued weakness in Europe.

 

Overall, Interpublic’s second quarter 2010 revenue was $1.62 billion, compared to $1.47 billion in the second quarter of 2009, with an organic revenue increase of 8.5 percent compared to the prior-year period, as well as organic growth of 13.6 percent in the U.S. and double-digit organic increases in key developing markets. First half 2010 revenue was $2.96 billion, compared to $2.80 billion in the first half of 2009, with an organic revenue increase of 3.1 percent.

 

"We are pleased with the second quarter's strong performance in terms of both growth and profitability,” said IPG chairman and CEO Michael Roth. “Contributions to our organic revenue growth came from existing and new clients across a range of industry sectors, from the U.S. and emerging international markets and from a broad cross-section of the agencies in our portfolio."

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