Publicis Groupe lifted full year guidance for the second time this year, after reporting better than expected organic growth of 10.3% in the September quarter
After a third quarter of double-digit growth, the global advertising group now expects, despite an “uncertain” global economic context, organic growth of about 8.5% over the 12 months, up from 6%-7% and before that 4%-5%.
The company says it has a strong model to face economic uncertainties ahead.
Staff not on an incentive scheme will be given an exceptional bonus of one week salary.
The US and Europe reported 11.1% growth. China hit 5.9% despite lockdowns.
APAC was at 4.1% with double digit growth in media and single digit for creative.
The business in Australia and New Zealand was “strong”.
CEO Arthur Sadoun says the Publicis model delivered double digit growth by capturing the evolution in client spend towards first-party data management, digital media and business transformation.
“What really stands out is our performance versus pre-pandemic levels. Compared to 2019, we’ve seen our organic growth accelerate to 16% in Q3.
“This demonstrates our ability to more than withstand the ups and downs of the global economy, and makes us confident in our ability to face ongoing macroeconomic uncertainties.
“I’d like to thank our clients for their partnership. I also want to say a big ‘merci’ to all of our people for their outstanding efforts. In a context where inflation is impacting the daily lives of many of them, we want to ensure we are giving additional support where it is most needed as we enter the holiday season.
“That is why we are granting next month an additional one-week salary to half of our team members who do not have any variable remuneration and have contributed to everything we have achieved over the past year. ”
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