Publicis
Publicis Groupe SA, joint owner of the Zenith Optimedia Group, yesterday reported consolidated revenues of E576 million for the first quarter of 2002, an increase of 4.6% over the E550 million reported for the same period in 2001. Taking into account constant exchange rates and identical unit reporting, revenues fell by 2.2% in Q1, slightly ahead of analyst forecasts.
Commenting on the results, Publicis chairman & CEO Maurice Lévy said: “As expected, the downturn in the fourth quarter of 2001 continued into the first three months of 2002. The market was down significantly compared to last year, as shown by figures reported by many companies in the sector. In this environment, our performance is extremely encouraging, with revenues up 4.6% in absolute terms and a decline of just 2.2% on a comparative basis.”
News Corp
Meanwhile, a $4.0 billion write-off of News Corp’s stake in Gemstar TV has left the corporation with a post-tax loss of $4.2 billion for the three months to the end of March (the third quarter of the group’s financial year).
However, despite the exceptional write-off, revenues were up 17.7% to £3.85 billion and operating income was up 54.2% to $549 million. The figures were boosted by good box office performances from 20th Century Fox, notably by Moulin Rouge and Ice Age.
BSkyB saw revenue and EBITDA rise by 21% and 23% respectively, whilst DTH subscribers rose by 11% to 5.9 million, as reported last week. News International, which publishes the Times and Sun in the UK, reported flat operating income, with circulation revenues rising for all titles. However advertising revenues declined by 16% in the period due to lower volumes and yields in all major advertising categories, said News Corp.
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