Omnicom's capture of Procter & Gamble and Volkswagen media accounts last year has helped the US advertising giant secure a return to growth, while UK revenue was up 4.9%.

Omnicom’s global revenue for last year increased by 1.9% to $15.42bn (£12.46bn). This was aided by an increase of 2.1% to $4.24bn year on year in the fourth quarter.

However, the company's fourth quarter revenue came in lower than analysts' average estimate of $4.26bn, according to Thomson Reuters I/B/E/S.

PHD, Campaign’s media network of the year for 2016, benefitted from the huge £2bn media consolidation of the global Volkswagen business, while Omnicom launched a new network, Hearts & Science, to service the US business for P&G. AT&T also consolidated its $4bn media account into Hearts & Science last year. 

This time last year, the owner of BBDO and OMD reported a 1.2% drop in global revenue for 2015 after the holding company was hit negatively by currency movements. 

Omnicom’s UK revenue growth of 4.9% outperformed the Euro markets (4%) and North America (2.4%), but was not as strong as Asia-Pacific (6.9%). In the fourth quarter of 2016, the UK was reported to be one of Omnicom’s best performing regional markets, with organic revenue growing 8.5%, compared to 0.6% in North America, 6.2% in the Euro markets and 9.5% in Asia-Pacific.

Advertising was Omnicom’s best-performing division in 2016, with 5.9% organic revenue growth, compared to a 2.8% uplift in PR, 0.3% increase in CRM and 4.6% in specialty communications.

Omnicom’s increase in organic revenue of 3.5% for 2016 was offset by a 1.9% decrease revenue caused by foreign exchange rate movements.

Operating profit for the year increased 4.6% to $2.01bn in 2016, while EBITA increased by 4.7% to £2.12bn.