Global advertising group Omnicom posted full-year organic growth of 2.8% to $US14.95 billion, ahead of analyst expectations and at the upper end of management forecasts.
CEO John Wren: "In the face of a dynamic yet challenging environment, I’m very pleased that our strategies, talent and execution have allowed us to consistently deliver solid financial results."
Revenue for the December quarter was $US4.14 billion, representing organic growth of 3.5%. Net income increased $US12.7 million, or 1%, to $US1.34 billion.
The US, representing more than half of Omnicom's revenue, posted organic growth of 2.8% in the quarter and the UK 3.3%. Global organic growth for Omnicom's advertising business was 4.5%.
The company described the performance by agencies in Australia as "solid", helping the Asia Pacific business to grow at 4.5% to $US456.8 million revenue in the December quarter, and by 2.2% in the full-year to $US1.65 billion.
The outlook for 2020 is for organic growth of 2% to 3%. The company will continue looking for "efficiencies" but will "invest" for growth, especially in the areas of data and analytics.
The company declared a dividend of 0.65 US cents a share, up from 60 US cents in 2018.
Revenue by business:
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at firstname.lastname@example.org