Omnicom’s global profits slide in Q3

Omnicom, the global advertising group that runs agency networks including BBDO and DDB, has seen its profits fall by 22.5 per cent during the three months ending 30 September.

In its third quarter results, released today, the group, run by John Wren, reported that year-on-year profits had decreased from $213.6 million to $165.6 million, with worldwide revenue falling 14.4 per cent to $2.83 billion.

In the US alone, revenue for the period dropped by 13.2 per cent to $1.5 billion, while international revenue decreased 15.8 per cent to $1.35 billion.

The figures meant Omnicom’s operating profit for the three-month period fell from $373.4 million in 2008 to $294.8 million in 2009.

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One Response to Omnicom’s global profits slide in Q3

  1. David Udoll says:

    Should anyone question the need for heath care reform they need only refer to the Christmas present given to retirees of the New York- based media conglomerate, Omnicom. The gift came along with the statement of their contributions to last year’s coverage-a whopping $877.00– for a policy that costs their retirees well over $6,000 a year. This year they showed they cared by announcing that the policy coverage will end December 31, 2010.

    Had retirees not believed Omnicom’s promise of health insurance coverage until age 65, many would have bought personal policies when they were ten 10 or 15 years younger. Now they are faced with buying coverage to make it to Medicare–ten or more years away, at an age when insurance is much more difficult and costly to get.

    They didn’t leave their older, ex-employees empty handed though; they provided them with the e-mail address of an online insurance company.

    Can’t image a crueler more heartless action for Omnicom to spring on their retirees.
    Let’s go to their next annual report and see what kind of bonuses they gave themselves for this act of humanity.

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