Publicis 3Q results 'good' despite weak dollar
By Erina Lin, Monday 29 October 2007 at 21:27 :: General :: #768 :: rss
Paris-based Publicis Groupe revealed results that CEO Maurice Levy termed as “good” for the third quarter of 2007, with “excellent double digit growth” among its two media networks, Starcom MediaVest Group and ZenithOptimedia Group and the recent buyout of digital network Digitas.
Revenues of Publicis increased 10.8 percent to $1.617 billion in the third quarter, compared with the disappointing results of the first half.
In fact, results would have been better in the third quarter, in spite of the impact of a weak U.S. dollar. With constant exchange rates, Publicis' revenues would have been up 15 percent in the third quarter. Results for the first nine months could have approached 12 percent vs. 7.5 percent after the impact of currency exchanges, according to Media Post.
Publicis is not the only global agency holding company to be impacted negatively by the U.S. dollar's exchange rate. London-based WPP Group, and Havas, the Paris-based parent of MPG, Media Contacts and other agencies, also reported similar stories.
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