Publicis , the world's third-biggest advertising group, beat market expectations of organic growth in the first quarter but stuck to its full-year outlook on Thursday, hindered by economic uncertainties.
The logo of Publicis group is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau, the world's third-biggest advertising group, beat market expectations of organic growth in the first quarter but stuck to its full-year outlook on Thursday, hindered by economic uncertainties.
Home to ad agencies Leo Burnett and Saatchi & Saatchi, the French company posted net revenue of 2.80 billion euros , up 10.5% organically, against a 6.3% increase forecast by analysts in a consensus compiled by Publicis. "We started the year very strongly, both financially and commercially," Chief Executive Officer Arthur Sadoun said in a statement as he shared his confidence in coming in at the upper end of an unchanged 4%-5% full-year organic growth target."These good results should not conceal the macroeconomic uncertainties the world is facing today," he however told journalists in a call. "We have to remain agile.
While the beat should have led Publicis to upgrade its objectives, the group expressed reservations on the consequences the global health situation, the conflict in Ukraine and the rise in raw materials and energy prices could have.
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