Publicis Groupe has upgraded its full year forecasts as the global advertising company streaks past pre-pandemic levels, posting 11.2% organic growth for the September quarter.
Net revenue in the September quarter was 2.621 billion euros compared to 2.343 billion euros in the same three months in 2020, increasing by 11.9%. This beat expectations of market analysts.
The France-based group now forecasts full year organic growth between 8.5% and 9%, up from the previous estimate of 7%.
CEO Arthur Sadoun: "The strength of our model not only means we have fully recovered from the impact of the pandemic, but it has also allowed us in Q3 to grow 5% versus 2019."
In the September quarter, the company's US business grew 10.9%, Europe 10% and Asia 12.5%.
"Overall, 18 months after the beginning of the pandemic, we are emerging as a stronger group," says Sadoun.
"Our differentiated go to market is allowing us to confirm our leadership position in new business. After wins in H1 including Samsung US, Stellantis globally, L’Oréal in China to name just a few, Q3 has been a busy quarter, with new wins like Ferrero, Planet Fitness, TD Bank and Walmart.
"We have a product and service offering that uniquely positions us to respond to our clients’ needs and help them address and lead the major revolutions in the industry, from the disappearance of third party cookies, the acceleration of advanced TV and retail media, and the ongoing rise of direct to consumer channels.
"And our platform organisation, supported by our shared services and Marcel is fit for the future of work. A future that will be more diverse, more inclusive and more responsible than ever before, to the benefit of all of our people."
A regional breakdown:
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