Publicis grows its digital slice but growth slowed by Omnicom deal
FRENCH communications giant Publicis Groupe missed expectations for organic growth in its third quarter results yesterday, yet claimed the fact that 42 per cent of its overall revenue came from digital operations was a testament to its “vitality”.
Overall sales growth stood at one per cent for the quarter. In response, Publicis adjusted its full year organic sales projection to 1.5 per cent – a big drop from the four per cent it predicted in February.
The firm blamed the missed expectations as a result of its focus on “other plans” – a reference to this year’s failed $35bn (£27.6bn) merger with US-based advertising giant Omnicom.
“We are at the end of this cycle and very confident of the future,” said chairman and chief executive Maurice Levy.
Shares in Paris tumbled 2.89 per cent on the news to €52 yesterday.