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Omnicom second quarter revenue slips

Omnicom Group has reported a second slide in revenue compered to the previous year as growth in the US slowed and exchange rates took their toll, but the Asia Pacific market lifted through organic growth and total revenue.

The parent company of BBDO, DDB, TBWA, Omnicom and PHD reported worldwide revenue for the second quarter down by 2.4% from $US3.884b to $US3.79b compared to the second quarter of 2016, with foreign exchange rates also having a negative impact on the business.

Overall revenue in North America was down 6.6% for the second quarter and down 3.1% for the 2017 year to date, while UK revenue was down 3.7% for the second quarter and 5.9% for the first half of 2017.

Revenue for Asia Pacific lifted 1.3% overall for the second quarter but organic growth was up 7.1%, while figures for the first half showed growth of 3.4% for the region.

Overall operating profit was up $US3.7m or 0.7% to $US565.5m compared to the second quarter of 2016.

For the six months to June 2017 Omnicom Group net income increased $US25.9m to $US570.4m.

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