Omnicom Q4 results sees double digit fall
Omnicom, the marketing services group which owns agency networks including DDB, BBDO Worldwide and OMD, saw its fourth quarter profit fall by 15 per cent as it continued to feel the effects of the global economic downturn.
In the three months to the end of December last year its net income was down 15.3 per cent to US$229.6m, compared to a year earlier. Revenue also decreased by 3 per cent to US$3.27bn.
Earlier this month Sir Martin Sorrell, chief executive of rival WPP, played down the economic recovery, describing the global situation as “less worse”.