Mixed fortunes for Publicis as first half revenues slip despite return to quarterly growth
Publicis Groupe has posted a mixed set of results after a small dip in revenues over the first half of the year took the shine off a welcome return to growth in the second quarter.
Arthur Sadoun, chief executive of Publicis Groupe
Revenues grew 1.9% over the first half but this fell to a mere 0.2% when the effects of currency movements and acquisitions are stripped out, although growth picked up in the second quarter when organic growth hit 0.8%.
Blaming its disappointing performance over the six months taken as a whole, Publicis blamed legacy issues in the US but the improved second quarter performance will give some measure of consolation to Arthur Sadoun, in what is his first set of results since assuming the mantle of chairman and chief executive.
Sadoun commented: “We expect the sequential improvement in organic growth to continue in the third quarter. And we should return to a growth rate comparable with peers in the second half of the year.”
The results come after a much-publicized pause in all trade show and awards participation in order to focus efforts on an AI-enabled ‘professional assistant’ platform called Marcel, to which Sadoun has personally affixed his colours.
Sadoun needs to prove he can turn the business around to validate the Power of One model, which entails unifying four previously separate divisions; Advertising, digital, media and healthcare.