Omnicom Group reported a 2.2% dip in revenue for the fourth quarter of last year to $4.09 billion compared to fourth-quarter 2017, partly due to the adoption of new accounting standards. Net profit climbed nearly 57% to $399.2 million, helped in part by benefits from the 2017 Tax Act.
The Group achieved organic growth (which excludes the impact of M&A and currency fluctuations) in the quarter of 3.2%. The company said organic growth in its advertising segment was up 4.4%, while CRM/customer experience increased 4.2%, CRM/execution & support decreased 3.7%, PR increased 1.5% and healthcare increased 7.6%.
By region, organic growth was: 2.6% in the U.S., 1.3% for the remaining part of North America, 2.4% in the UK, 5.7% for Europe, 2.9% for Asia-Pacific, 1.0% for Latin America and 4.2% for the Middle East and Africa.
For full-year 2018, revenue increased 0.1% to $15.3 billion.Net income was up 21.9%, partly as a result of the Tax Act as well a net gain on the sale of certain assets.
Organic growth for year was 2.6% with advertising up 2.9%; CRM/consumer experience up 5.9%, CRM/execution & support down 2.7%, PR up 1.8% and healthcare up 4.5%.
Organic growth in the U.S. was 0.7% with an organic decline of 3.9% in the rest of North America; 0.7% in the UK; 8.2% in Europe; 7.9% in Asia-Pacific and 2.0% in Latin America.