The French advertising firm Publicis has reported a 2.6% fall in net profit for 2002 but full year figures were above many analysts’ forecasts.
The acquisition of US advertising group Bcom3 helped to increase operating profit by 25% to €429 million (see
Publicis Revenues Jump 20% In 2002, Buoyed By Bcom3) while net before goodwill rose by more than 10% to €237 million.
Goodwill write-downs relating to the purchase of Bcom3 resulted in a decline in net profit from €151 million to €147 million but Publicis is planning to raise its dividend from €0.22 in 2001 to €0.24 this time round.
The outlook for 2003 remains unclear but the company is hopeful of taking its operating margin to 15% in the second half, despite extenuating circumstances.
“This year 2003 looks to be again uncertain with an investment climate that has not improved, diplomatic tensions and economic difficulties,” said Publicis CEO Maurice Levy in a statement.
