Publicis Groupe posted organic growth of 17.1% in the June quarter, recovering ground lost during the depths of the economic fallout from the pandemic.
The lift compares to a13% fall in the same three months of 2020
Net revenue for the quarter was up 10.7% to € 2.539 billion and the global advertising group upgraded its revenue outlook for the rest of the year, with a full recovery in the second half.
Publicis CEO Arthur Sadoun: “In the first half of the year, we had a very strong performance thanks to our model in an improving business environment.
"Not only did we fully recover the revenue lost in 2020, but all of our KPIs over the first half exceeded 2019 levels."
The June quarter organic growth of 17.1% was 2% better than the same three months in 2019.
This overperformance was largely driven by the US and Asia, which both grew 7% versus 2019.
US operations posted 15.2% organic growth, Asia 13.6% and Europe 23%.
"For the remaining part of the year, our ability to capture a disproportionate part of our clients’ investment in data and technology means we are in a position to upgrade our 2021 guidance," says Sadoun.
"We now expect to totally recover to pre-pandemic levels, a year ahead of our initial expectations, with full year organic growth at 7% and full recovery in H2, and an operating margin of 17%, provided there are no major deteriorations in the global sanitary situation."
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