Omnicom Q1 profits jumps on improved Forex gains

Credera

Omnicom Group, the world’s second largest advertising company said it net revenue rose by 2.5% inn the first quarter of 2017 increased 2.5%.

Total revenue for the quarter rose to USD3,6 billion compared to USD3,5 billion disclosed in the previous year.

Omnicom said the positive result was as a result of the change in revenue included a decrease in revenue from the negative foreign exchange rate impact of 1.2%, a decrease in acquisition revenue, net of disposition revenue of 0.7% and an increase in revenue from organic growth of 4.4% when compared to the first quarter of 2016.

Across our regional markets, organic growth in the first quarter of 2017 as compared to the first quarter of 2016 was 1.1% in North America, 8.1% in the United Kingdom, 8.2% in the Euro Markets and Other Europe, 9.1% in Asia Pacific, 5.4% in Latin America and 37.9% in the Middle East and Africa.

Organic growth in the first quarter of 2017 as compared to the first quarter of 2016 in our four fundamental disciplines was as follows: advertising increased 6.4%, CRM increased 2.1%, public relations increased 1.8% and specialty communications increased 3.3%.

Net profit for the quarter rose to USD23.4 million, or 10.7%, to $241.8 million from $218.4 million in the first quarter of 2016, including the effects of the adoption of ASU 2016-09.