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Omnicom Registers Organic Decline

Adweek, Thursday, February 11, 2010 12:10 AM

Weakness in auto biz, among others, dragged down Omnicom's fourth quarter, though CEO John Wren says the recession is behind them. Omnicom Group, hit by declines in its automotive, sports/event marketing and recruitment businesses, said 2009 fourth-quarter profit fell 15.3% to $229.6 million from the year-earlier period. Earnings per share dropped to 73 cents from 87 cents.

Wren said those three sectors accounted for 100%of the 6.3 percent drop in the company's 4Q revenue -- to $3.27 billion -- when viewed in terms of organic growth, a measure that factors out the impact of currency fluctuations, acquisitions and related items. In non-organic terms, the quarterly revenue dip was 3%. Wren said: "We believe most of our clients will increase spending in the second half."

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