Publicis says China, Europe recovery lifts Q1 sales
Monday, 21 April 2014 00:00
Reuters: Advertising agency Publicis, which is merging with larger rival Omnicom, achieved 3.3% revenue growth on a comparable basis in the first quarter, helped by strong digital sales and an uptick in China and Europe.
Revenue at Publicis, which is the first major ad group to post results for the period, was 1.6 billion euros ($ 2.21 billion), in line with analysts’ average expectations of 1.62 billion. The average estimate for organic growth was 3%, according to company-provided figures.
Chief Executive Maurice Levy confirmed Publicis’ annual targets of organic sales growth of more than 4% and improved operating margins.
He added on a conference call with reporters that first-quarter margins had become “slightly better,” without providing a comparable 2013 figure.