Revenues earned by The Interpublic Group of Companies in the first half of 2009 fell 15.7% by comparison with the same period last year, mirroring the 15.8% fall already reported by Omnicom Group. If adverse currency effects are excluded both groups experienced an 8.5% fall in revenues.
Interpublic managed to report a modest $21 million post-tax profit for the latest quarter, reducing the cumulative loss for the half year to $53 million. That loss was influenced by further massive staff severance costs of $71.5 million and finance costs of almost $78 million. The operating profit margin for the half year was a meagre 0.5%
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BOB WILLOTT
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