Publicis Groupe (PGPEF.PK,PUBGY.PK) reported that its third-quarter total revenue increased 3.0% to 1.68 billion euros, from 1.63 billion euros, last year. The company noted that exchange rates had a negative impact of 95 million euros. Reported growth would stand at 9.3% if exchange rates had remained constant, the company said. Organic growth for the period was 3.5%.
Publicis Groupe's consolidated revenue rose 6.7% to 5.03 billion euro over the first nine months of 2013. At September 30, 2013, organic growth was 3.3% for the first nine months of the year.
Maurice Lévy, Chairman and CEO of Publicis Groupe, said: "Our third quarter was in line with our internal forecasts despite tensions stemming from Brazil and the situation in Syria. Europe, for the first time this year posted moderate growth."
"During this third quarter, we also started the merger process of Publicis Groupe and Omnicom. Everything is going to plan, with special mention regarding the filing with the competition authorities, an arduous task well handled by the teams of both groups," Lévy said. On July 28, 2013, Omnicom and Publicis Groupe announced their agreement for a merger of equals.
For 2013, the company maintained its internal objectives of organic growth above the 2.9% achieved in 2012, in the region of 3.5% to 3.6%.
"However, as is the case every year, the fourth quarter is always somewhat unpredictable given volatility levels at year-end. Caution is required particularly since the global economic situation has come under the threat of government shutdown in the USA," CEO, Maurice Lévy, noted.
by RTT Staff Writer
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