Interpublic records 9.7 per cent revenue boost in second quarter

However, the group has insisted that it will continue to manage its business "conservatively".

Interpublic, which owns creative agencies Lowe and McCann Erickson along with media networks Initiative and Universal McCann (UM), said the growth figure was boosted by organic revenue growth of 8.5 per cent, "reflecting increases in client spending and new business wins."

Q2 revenue was up from US$1.47 billion during 2009, to US$1.62 billion this year.

Operating income was up during quarter two to US$177.3 million, from US$96.9 million during the same period last year.

Interpublic has recorded a series of new business wins in the US, with UM currently resurgent in the region.

During the first half of this year, UM has taken the US$200 million BMW North America media account, as well the media accounts for investment broker Charles Schwab, restaurant chain Applebee's and car marque Chrysler in the US.

It also took the global media planning and buying account for British fashion brand Burberry.

Michael Roth (pictured), Interpublic Group's chief executive, said, "We are pleased with the second quarter's strong performance in terms of both growth and profitability. Contributions to our organic revenue growth came from existing and new clients across a range of industry sectors, from the US and emerging international markets, and from a broad cross-section of the agencies in our portfolio."

"Of course, there remain areas of uncertainty in the global economy, so we will continue to manage the business conservatively."

Roth added, "With revenue stability and growth back in the picture, we feel we are very much on track to deliver on our operating margin objective of better than eight percent for 2010."

"Combined with our commitment to put the cash on our balance sheet to work on behalf of shareholders, we believe our financial performance positions us well to enhance shareholder value going forward."

Earlier this week, French advertising group Publicis announced a 14.9 per cent increase in its consolidated YOY revenue, posting US$3,309 million in the first half of 2010 compared to US$2,880 million last year.

Last week US group Omnicom posted strong second-quarter results, reporting a six per cent rise in revenue to US$3.04 billion and a 4.2 per cent improvement in profit to $243.3 million, compared to the same period in 2009.