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| Anne-Marie Curran |
The management of Ireland’s Drury Porter Novelli has bought the firm back from Omnicom. Terms of the deal were not disclosed.
Omnicom acquired Drury Communications, which launched in 1989, in 2000. It became part of Porter Novelli’s network in 2015. Once the buyout is completed, firm will revert to its original name.
Anne-Marie Curran, managing director, said her management team is keen to become independent again.
"Under management ownership, our team will be even more agile and innovative, exploiting the fast-moving evolution of communications consultancy," she said. “The consequences of the pandemic have re-enforced the critical role of effective communications for brands and businesses.”
Billy Murphy, chairperson, Sinead Birt, finance director and Paddy Hughes, director, round out the management buyout group,.
The Irish Times reports that Drury Porter Novelli, reported a 24 per cent increase in turnover to $5.2M for 2019, with pretax profit up 40 per cent to $980K. Net profit for 2019 rose by 40 per cent to $845K.
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Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
Stagwell CEO Mark Penn reported Q4 net revenues dipped 5.6 percent to $551.1M during a “challenging year for marketing services and digital transformation.”
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WPP reported Q4 revenues inched ahead 0.3 percent to $4.1B as CEO Mark Read wrapped up a year that he said was more challenging than expected due to cutbacks, mainly by technology clients.
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