- Home /
- Agencies
What, no PubicOm?
Shock, horror. “Publicis and Omnicom agree to terminate proposed merger of equals” 10 months ago when Publicis and Omnicom announced their intention to merge I wrote two articles on this blog. The first was titled ‘Omnicom & Publicis – a marriage not made in heaven’ and was an initial response to the press leaks […]
Continue readingWPP Q3 – still on track to beat FY13 guidance, albeit discounted by markets and valuation
WPP’s Q3 revenue numbers today were solid, but with few real surprises. Year on year organic revenue growth of +5.0% maintained the similar rate already reported for July while also being slightly ahead of rivals Omnicom and Publicis. Scanning the numbers being reported there are four main points that stand out. 1) UK organic revenue […]
Continue readingThe need to look beyond the quarterly agencies reports
My iPhone weather App is like a set of Agency results. It gives me a largely coincidental view of the weather if I don’t want to look out of the window, but is pretty useless as a meaningful forecasting tool. With two of the big four agencies reporting, are we much the wiser? Omnicom edged […]
Continue readingPublicis Omnicom Groupe – financials less exciting than the impending management soap opera
Oh la la, Omnicom is to be bracketed by Publicis to become part of the greater “Publicis Omnicom Groupe” with deal to be signed in Paris rather than New York or a neutral country. Does this mean a corporate coup for the French or will the emergence of a balanced board and possible removal of […]
Continue readingOmnicom & Publicis – a marriage not made in heaven
Business struggles to deliver above market organic growth and therefore resorts to sector consolidation to cut costs and obscure the maturing growth profile. It is a well enough used stratagem. Pharma has been there and done it, Telecom consolidation is currently in full flood and once again, major consolidation is being proposed in the marketing […]
Continue readingDeteriorating US NFP – a negative lead indicator for marketing investment
US labor laws mean that US companies can hire and fire with relative impunity. Regardless of the longer term advisability of treating what ought to be a longer term resourse as swing capacity, it does afford equity markets with a near real time metric of US corporate investment and an effective lead indicator. When firm’s […]
Continue readingAegis (AGS-LN): Q1 beat on Revs + good momentum for 2012, but already in the price
Q1 organic revenue growth of +8.1% was ahead of our +7.5% forecast; albeit below the +12.0% advance in Q4 2012, but in part reflecting a -3ppts less favourable prior year comparative. By region, The Americas were the high point, increasing organic revenues by a class beating +20.2%, and this even before the $2.5bn GM account […]
Continue readingWPP (WPP-LN): Q1 – positive spin and NNB, but organic revs of +4% only in line -HOLD
Q1 organic revenue growth of 4.0% was shy of our +4.4% forecast, albeit broadly in line with Q4’s +4.5% and WPP’s full year expectations of +4%. By region, the most noticeable change was from N. America where u/l growth of only +1.4% lagged its peers (>+3.5%) and our estimate of +4.4%. W. Europe however at +2.5% was better than […]
Continue reading