Publicis confirms its annual objectives and reveals a solid first quarter result. The group reported net income of 3.2 billion euros in the first quarter, with the effects of changing exchange rates having a negative impact of 29 million euros.
At constant exchange rates and scope, net income growth was 5.3%, a level well above analyst consensus. Overall, activity is up in all regions, with a 6.1% increase in Europe, led by France which posted 9.4% growth, and a6.7% jump in China. By comparison, British competitor WPP announced in February a net profit divided by six in 2023 due to reduced customer spending in “tech” The group is confident in its ability to achieve growth in 2024 of between 4% and 5%. Growth can “reach the high range of 5% assuming a faster resumption of digital transformation projects among our clients, as well as fewer reductions in traditional advertising spending,” specifies a press release.