Interpublic profit rises 27%

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Interpublic Group of Cos., New York, saw net income climb 27% in the first quarter, vs. a year ago, to $57.1 million, in spite of $36.1 million in restructuring costs from the Lowe Lintas & Partners Worldwide merger. Worldwide revenue rose 20% to $1.1 billion. Revenue from domestic operations increased 27%, and from international operations rose 13%. Interpublic agencies brought in $702 million in net new business during the quarter, a 17% increase from 1999.

Copyright April 2000, Crain Communications Inc.

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