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Omnicom: quarterly profit rises despite lower revenues

( - Omnicom Group reported higher quarterly earnings on Tuesday, even though its revenue fell due to negative foreign exchange rate effects and the absence of significant mergers and acquisitions.

The New York-based advertising company reported fourth-quarter net profit of 399 million, or 1.77 dollar a share, up from 254 million, or 1.09 dollar a share, a year ago.

The home to tier-one agencies like TBWA and BBDO said global revenue in the last three months of 2018 decreased 2.2% to 4.1 billion dollars.

However, organic growth was 3.2%, thanks to the strength of its advertising and CRM businesses, the group said.

Geographically, organic growth reached 5.7% in European markets.

Yesterday Omnicom increased its quarterly cash dividend to 65 cents per common share, or 2.60 dollars on an annual basis, meaning an 8.3% increase versus the previous quarterly dividend.

Its shares were up over 2.6% after the earnings report.

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