APAC boosts IPG’s international revenue
26 April 2012
Interpublic Group (IPG) has posted a 2.2% year-on-year increase in revenue to $1.51bn with Asia-Pacific significantly boosting its international operations, according to its Q1 2012 financial results.
IPG’s largest growth came from the Asia-Pacific region which showed 21.7% overall growth for the quarter, contributing $170.9m to its international revenue. Continental Europe also experienced strong growth of 9.1% during the first quarter to $167.3m. Slower growth of 2.9% was reported for Latin America, contributing $79.3m to its overseas operations.
More than half of the group’s revenue ($879.7m) came from the US, up 1.7% compared with the same quarter last year. IPG also posted first quarter operating loss of $39m, a reduction on the $45m loss posted in the same period for 2011. It reduced debt by $150m to $1.62bn.
“Our performance during the first quarter was solid and represents a good start in meeting our goals for 2012,” says IPG chairman and chief executive Michael Roth. “We are on track to deliver on our financial targets for the year. The strength of our balance sheet and the significant de-leveraging that we have accomplished provide additional, powerful levers that will allow us to continue to support the needs of the business, further return capital to our owners and enhance shareholder value.”
Roth also noted that the group has seen significant contributions from its digital operations.
Havas also announced significant growth in Asia-Pacific in its Q1 financial results earlier this week
David Hing, London