Publicis Groupe Growth Slows in Third Quarter Thanks to Sluggish September
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Publicis Groupe today reported worse than expected revenue for the third quarter of 2012, with organic growth of just 2% and revenue of $2.1 billion, due mainly to a very weak September.
In July, the group reported growth for the first half of the year of 2.8%, and at the time predicted an increase in growth rates. In the U.S., despite 6.1% growth in July and August, September numbers brought the overall growth figure for the third quarter down to 3.2%, with revenue of $3 billion. This was mostly attributed to the impact of the loss of General Motors’ media business and a decline in revenue from Publicis Groupe’s healthcare agencies.
Europe moved into negative territory, shrinking by 3.6% and bringing in revenue of $1.7 billion. Maurice Levy, chairman and CEO of Publicis Groupe, said during a conference call that the issue in Europe was no longer the Eurozone crisis, but consumer confidence and a “wait and see” attitude from marketers, who are cancelling or postponing campaigns.
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