Print Published 18th Apr 2017, 20:50

Tax change increases Omnicom’s first quarter profit by 5%

A $12.4 million tax credit improved Omnicom Group’s first quarter profit by 5%, the company revealed today.

The tax benefit arose from the adoption of a new US accounting rule governing the treatment of restricted stock awards that vested and stock option awards that were exercised in the first three months of 2017.