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Interpublic targets 3% organic growth in 2012

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MUMBAI: US-based ad holding company Interpublic Group is targeting an organic growth of 3 per cent as its first six months are going to be impacted by client losses suffered last year.

The company‘s annual revenue in 2011 was up 7.8 per cent to about $7 billion. Net income for 2011 increased by 96 per cent to $551.5 million as compared to $281.2 in 2010.

Interpublic gained last year as it had net cash inflow of $134 million from the sale of about half of its interest in Facebook.

Interpublic CEO Michael Roth said the company faces revenue challenges in 2012 due to client losses from last year, which are expected to affect the first six months of the year. "We are targeting 3 per cent organic growth this year," he averred.

Interpublic agency networks, McCann Erickson and DraftFCB, both saw major accounts defect in 2011. McCann Erickson lost Nescafe work and other accounts while DraftFCB lost SC Johnson and is now having to share Miller Lite work with Publicis Groupe‘s Saatchi & Saatchi.

Roth said that all of the company‘s regions grew in terms of organic growth in 2011 barring Europe due to its current debt crisis. While for the full year continental Europe was down 0.1 per cent, Latin America was up by 17.8 per cent. For the fourth quarter U.S. organic growth was up by 2.2 per cent, Latin American was up 30.4 per cent and Europe was down 3.2 per cent.

Net income in the fourth quarter of 2011 was up by 25 per cent to $278.3 million. The total revenue for the fourth quarter was $2.07 billion, which is an increase by 3.4 per cent from the corresponding quarter on the previous year.

Said Roth, "Building on a very good 2010 result we continue to show organic revenue growth that is at or near the top of our peer group. This performance keeps us on track to deliver on our goal of fully competitive profitability in 2014."

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