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Major ad groups post encouraging figures.(Brief Article)
Signs that the embattled global advertising industry may be stabilising were reflected in first-quarter figures from Omnicom and WPP.
Omnicom saw its worldwide revenues rise by 12 per cent to pounds 1.22 billion. Meanwhile, WPP confirmed it was on target to increase overall margins from 12.3 per cent last year to 13.3 per cent by the end of this year.
Nevertheless, the going remains tough for both groups. WPP's revenue for the period fell by 3.9 per cent to pounds 909 million, while Omnicom saw a flat earnings performance.
However, the chief executives of both groups said they saw signs of the gloom lifting.
Omnicom's John Wren said worries about the impact of the war in Iraq had been largely unfounded. 'It was less significant than we ...
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