The marketing services group reports organic revenues slumped to €42m (£37m) in the final three months of the year, hit by a UK market “still suffering” from the effects of the recession
It adds: “Our agencies’ performances are being penalised by the steep reduction in advertising spending in the UK.”
The final quarter dip drove full-year UK revenues down 11.6% to €164m (£144m) on an organic basis.
Group revenues declines slowed to 4.4% in quarter four from a 9.3% dip in quarter three. The group says “significant progress” in territories including France and North America helped arrest the decline.
Full-year group revenues fell 7.9% to €1.4bn (£1.2bn) on an organic basis.
Net new business for 2009 was €1.2bn (£1.05bn). Group wins include MPG winning Reckitt Benckiser and Euro RSCG winning the Credit Suisse account.