Shares in Interpublic, one of the world’s largest advertising and marketing services groups, were hit on Tuesday by news that it had seen a 14.5 per cent organic revenue decline in the second quarter and expected little improvement in the second half of the year.

The shares fell 13 per cent or 81 cents by late afternoon in New York to $5.38 as Michael Roth, chairman and chief executive of the group behind agencies such as Draftfcb and McCann Erickson, said the worse-than-expected results “reflect the impact of the global economic downturn on our industry”.