The world’s largest marketing group, reported revenue growth of 23.4% to £3.6bn ($4.7bn) for the third quarter of 2016 as it benefitted largely from the weakening pound. The underlying like-for-like, or organic, revenue growth was 3.2%.
/ Omnicom Group
grew revenue by 2.3% to $3.8bn for the third quarter of 2016, comprising underlying organic growth of 3.2%, net acquisitions contributing 0.4% growth and foreign exchange impacts reducing revenue by 1.3%.
posted reported revenue for the quarter of €2.3bn ($2.5bn), down 0.4% from the same quarter in the previous year. The French group lost several key media accounts to competitors in the US last year including P&G, Coca-Cola, Mondelez and General Mills and the impact of this this is now showing. North America was Publicis’ weakest performing region for the quarter, with organic growth at -4.0%, sending shares down as much as 6.5% on the day of announcement. The group did, however, enjoy strong underlying growth in its home region of Europe, with 7.6%.
Publicis CEO Maurice Lévy stated a cautious approach to 2017 given the lack of visibility owing to elections in the US, France and Germany, and the consequences of Brexit. The group is currently in the process of restructuring as it prepares to reorganise the company into four hubs: communications, media, healthcare and Publicis.sapient (housing digital consultancy) as well as preparing for the departure of Mr Lévy in April 2017. With 1.9% organic growth for the first 9 months of the year, the group is trailing its competitors.
reported a third quarter revenue increase of 3% to $1.9bn. The company once again reported the highest organic growth of the four largest holding companies with 4.3% for this quarter. Acquisitions slightly increased revenue by 0.4% whilst forex reduced revenue by 1.7% for the quarter.
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