IPG reports A$3.56 billion revenue growth

Interpublic Group (IPG) has reported A$3.56 billion (US$2.55 billion) revenue growth in the 2021 fourth-quarter report, up 11.6%.

Despite being compared to the 5.4% drop recorded in the 2020 fourth-quarter results, it was still an increase from 2019's 5.7%

The Asia-Pacific region reported posted a strong increase to 9.7% to A$333.1 million (US$237.8 million). US organic growth was 12.1% and international 11%.

For the full year 2021, the advertising company's report noted a net revenue of $9.11 billion (A$12.7 billion) increased 12.9% in contrast to A$11.3billion (US$8.06 billion) in 2020.

Looking to the year ahead, management highlights significant operating momentum and positioning for future success.

In addition, the IPG's board approved 7% increase in quarterly dividend and reauthorised share repurchase program.

CEO of IPG Philippe Krakowsky said : "As is evident in our results, the combination of strategy, talent and culture we have built at IPG continues to drive a high level of innovation, collaboration and creativity.

"Our strong performance reflects more than the cyclical economic recovery, it further validates the growing role we are playing with marketers as they adapt and enhance their businesses to meet the challenges and opportunities of the digital economy.

"Our commitment to a strong balance sheet and financial flexibility remains a key priority, and the actions announced by our Board today, to increase our dividend and resume our share repurchase program, further speak to confidence in the forward trajectory of our company.

"Our strong financial foundation and performance, coupled with the talent of our people and the competitiveness of our offerings, will be key to our continued focus on further enhancing value for all of our stakeholders," he added.