Publicis reports 4.4% Q3 growth, but admits organic growth ‘does not match expectations’

In Europe, Publicis saw a 9.8 per cent rise in digital revenue, while North America saw a 5.1 per cent rise. BRIC and MISSAT saw a 31.4 per cent rise in digital revenue.

The report found that advertising accounted for 28.8 per cent of Publicis' revenue, while media was responsible for 14.2 per cent. The final 15.4 per cent of revenue came from SAMS.

Despite the increase in revenue, organic growth at the end of Q3 was just one per cent.

Maurice Lévy, chairman and chief executive of Publicis Groupe, said: “Organic growth has slightly picked up compared to the second quarter of 2014 but does not match our expectations.

"There are a number of factors behind this, mainly the fact that management was too focused on other plans and not enough on the short - term performance and growth. We are at the end of this cycle and very confident in the future. Very important decisions have been made including management teams and organisation.

“There is much positive news that testifies to the vitality of the group, which is very encouraging. Starting with digital, which now accounts for 42 per cent of our revenue and is growing by more than nine per cent, as well as the great victory of the Samsung competition.

“Our clients will be confronted with the shock wave of the digital transformation on their business models. We are ready to provide them with the innovative services that will drive them into the future."

Earlier this week, Omnicom announced its results, revealing that it had spent $8.8m on its failed merger with Publicis.

However, Publicis Groupe results did not mention what, if any, money it put into the merger, instead noting a €457m (£361m) reduction in debt.

Lévy concluded: “The end of this year will not be very different from the first nine months, but we are confident in our ability to deliver a good level of profitability and are working on our 2018 plan that will soon be presented to investors.”