Publicis: revises organic growth target for 2019
(CercleFinance.com) - On Thursday Publicis reported net income of 2.
577 billion euros, up 17.3% as reported, but down 2.7% in organic terms.
Likewise, over 9 months, revenues reached 6.929 billion euros. Although up 7% as reported, once again, they are down in organic terms (-1.4%).
"Our third quarter shows the two faces of our transformation, which have never been so extreme.On the one side, the cost of our transition is hurting short-term organic growth with a negative Q3 below our internal expectations. This is leading us to take a very cautious approach and reset our guidance for revenue this year, now expected around -2.5%," said Arthur Sadoun, Publicis' Chairman and CEO.
"On the other, our transformation is starting to show concrete results. We are posting a 17.3% growth in our reported revenue, shifting the revenue profile of the Groupe towards future-facing expertise. We can confirm a 17.3% operating margin and a 5% headline EPS growth for 2019 thanks to solid financials," he added.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
577 billion euros, up 17.3% as reported, but down 2.7% in organic terms.
Likewise, over 9 months, revenues reached 6.929 billion euros. Although up 7% as reported, once again, they are down in organic terms (-1.4%).
"Our third quarter shows the two faces of our transformation, which have never been so extreme.On the one side, the cost of our transition is hurting short-term organic growth with a negative Q3 below our internal expectations. This is leading us to take a very cautious approach and reset our guidance for revenue this year, now expected around -2.5%," said Arthur Sadoun, Publicis' Chairman and CEO.
"On the other, our transformation is starting to show concrete results. We are posting a 17.3% growth in our reported revenue, shifting the revenue profile of the Groupe towards future-facing expertise. We can confirm a 17.3% operating margin and a 5% headline EPS growth for 2019 thanks to solid financials," he added.
Copyright (c) 2019 CercleFinance.com. All rights reserved.