Publicis Groupe posted organic growth of 10.5% in the March quarter, above market analysts' expectations of 5.6%, compared to 2.8% for the same three months last year.
The company, the first global advertising group to report first quarter results, updated full year guidance with organic growth now at the upper end of the +4 to +5% range.
Publicis reported continued momentum in the US. at +8.0%, robust recovery in Europe at +14.9% fueled by France and the UK, plus solid growth in Asia at +14.4% with China double-digit again.
In Asia, Publicis noted strong growth in media, mainly Singapore, Australia and New Zealand.
CEO Arthur Sadoun: “We started the year very strongly, both financially and commercially.
“Our model is going from strength to strength, as it continues to capture rising client demand for first-party data, digital media and commerce.
“This is particularly true in business transformation, where Publicis Sapient saw strong acceleration this quarter and grew +18% globally.
“We are confident in our ability to deliver on all of the objectives we set for the year and actually come in at the upper end of our organic growth target, despite the uncertainty caused by the global health situation, the evolution of the conflict in Ukraine, and the consequences of inflation for our clients.
“After topping all of the new business rankings in 2021, we are confirming our momentum with significant wins last quarter like McDonald’s, Singapore Tourism Board, Siemens, Etisalat, LVMH, Pepsi and the largest pitch of the year so far, AB InBev, to name just a few.
“Of course, the start to the year has also been dominated by the war in Ukraine. Our thoughts and unwavering solidarity go out to the Ukrainian people, and our 350 employees in the country. We will continue to respond to the gravity of this situation with concrete actions, and a clear focus on protecting their safety and wellbeing.”
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