Publicis Groupe’s revenue was €1,105 million during Q3, down from €1,122 million in Q3 2007, although Publicis said that, adjusting the figures to take into account the drop in the values of the pound and dollar, it showed organic growth of 3.9% globally.
In Europe, organic growth was up 0.9% over the same period last year, although unadjusted revenue dropped from €418 million to €411 million during the period.
Maurice Levy, Publicis chairman and CEO, said: “The third quarter ended with higher organic revenue growth than we expected, and finished better than we might have feared, given the turmoil in the world-wide financial system. These disturbances pushed the mature economies into a zone of turbulence, of which it is difficult to foresee either the intensity or the duration.
“In this context we believe our industry will face a difficult end of 2008 and a marked slowdown in 2009.”
He added: “Our objectives in 2009 are to consolidate revenue by increasing our market share in classic creative agencies, and to push ahead in fields where we have leadership positions: digital and high-growth markets. Moreover, we are aiming to protect our margins through a tight control of our costs.”
The results also reveal that Publicis has suffered a loss of €250 million so far this year due to the drop in value of the pound and dollar.
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