PARIS: Publicis Groupe saw 9% growth at MSLGroup and its other PR agencies in October, compared with the prior year on a like-for-like basis, according to a source at the company.
The Paris-based holding company reported overall organic revenue growth of higher than 7% in October, compared with the prior year.
Publicis said in a trading update released Monday that its growth in October was driven by the US, fast-growing markets, and digital. However, “Europe and analog media remain at worrying levels,” said CEO Maurice Levy, in a statement.
Levy gave a cautious outlook for the final three months of the year.
“[The] fourth quarter is always uncertain, particularly December. At this point in time, we cannot yet confirm that growth and confidence are back,” he said. “We will continue to aggressively pursue our strategy on two growth pillars: digital and fast-growing markets.”
Last month, Publicis reported 2% overall organic revenue growth in the third quarter to $2.1 billion, compared with the prior year. The holding company, which also operates Schwartz MSL, Kekst & Company, and Publicis Consultants, previously said it expected more than 4% organic revenue growth in Q3.
Levy said in a third-quarter earnings statement that the Paris-based company saw an upward trend in the summer, "then September brought a sudden downturn in the economies of Europe."
“Instead of the 6.6% growth forecast for September, the month ended with negative growth of 1.6%, mainly as a result of Europe,” he said in the statement.
However, Publicis saw organic revenue growth of higher than 5% in the third quarter at MSLGroup and its other PR agencies, according to a high-ranking source at the company. Organic revenue also grew in North America, up 3.2% organically compared with the previous year.
Organic revenue growth represents change in revenue without taking into account the impact of acquisitions or disposals.
