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Double-digit profit gains

Published on .

Agencies' third-quarter results are posting some double-digit gains. Omnicom Group, New York, reported a 22% increase in net income, vs. a year ago, to $85.7 million. Worldwide revenue rose 20% to $1.45 billion. Year-to-date: Net income is up 47% to $356.6 million; revenue up 20% to $4.4 billion. That net income level was substantially bolstered by Omnicom's sale of a portion of Web design company Razorfish, for which it received $110 million. Meanwhile, Interpublic Group of Cos. said its net income climbed 17% to $79 million. Worldwide revenue advanced 13% to $1.3 billion. Year-to-date: net income up 16% to $308.9 million; revenue up 16% to $3.9 billion.

Copyright October 2000, Crain Communications Inc.

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