Interpublic profits up 22%; new business hits $295 mil

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Interpublic Group of Cos., New York, registered a 22% increase in net income for the fourth quarter, vs. a year ago, hitting $130.1 million. Gross income for the period also rose 22%, to $1.5 billion. Gross income from domestic operations climbed 26%, while international operations rose 19%. Interpublic's agency systems gained net new business of about $295 million, up 17% from the same period in 1998. Yearend results: net income up 21% to $373.4 million, gross income up 15% to $4.6 billion; gross income from domestic operations up 19%, from international up 11%. Interpublic's agency systems picked up $1.8 billion in net new business during 1999, up 26% over '98 gains.

Copyright February 2000, Crain Communications Inc.

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