Omnicom Profits Flat In First Quarter; Revenue up 12%

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Omnicom Group’s revenue rose 12 percent in the first quarter, but its profits were flat, largely because of severance costs in Europe, according to the holding company.

Revenue climbed to $1.9 billion, from $1.7 billion in first-quarter 2002. Net income increased marginally to $128.6 million. First-quarter earnings per share rose a penny to 69 cents.

Total first-quarter U.S.

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