International holding group Publicis has upgraded its global forecast after a buoyant Q3 performance in which it posted organic growth figures of 5.8%.
This marks the second time that the Paris-based firm has upwardly revised its 2024 forecast, and it now expected to see organic growth of at least 5.5% for the year, up from the flat 5% it had predicted last quarter.
Across Q3, Publicis’ organic revenue grew by 5.8% year-on-year to £2.8 billion, continuing its sector-leading performances seen in Q2 (5.6%) and Q1 (5.3%).
The business’ European revenue grew by a solid 4.9%, with promising figures in both its native France (7.3%) and Germany (7.6%) providing even further cause for optimism.
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“New business tailwinds continue to sustain the momentum and we are expecting for the full year that we are going to outperform the market by 400 basis points, roughly 4% on the average,” Publicis chairman and CEO, Arthur Sadoun said.
“We are at 5.8% – that represents 150 basis points [1.5%] ahead of our peers, and accelerating over four years, despite the difficulties that we have encountered in terms of microeconomics.”
Growth in the UK however was ‘broadly flat’ with strong performances in creative and media offset by the challenged faced by digital consulting outfit Publicis Sapient.
North America as a whole saw organic growth figures of 4.7%, with the US experiencing a slightly more muted 4%. Asia-Pacific posted figures of 6.4%, boosted by astronomical 12.4% growth in China.
