Publicis Groupe marks the second ad holding company this week to raise its 2022 forecast despite economic pressures
upgraded its expectations for organic revenue growth this year as it reported its latest quarterly results, saying it is “ready to face the ongoing uncertainties” caused by macroeconomic factors.
The Paris-based advertising holding company, which owns agencies such as Saatchi & Saatchi, Leo Burnett and Zenith, said it expects to deliver organic growth of 6% to 7% in 2022, up from its previous target of 4% to 5%. Organic growth refers to the change in net revenue excluding the impacts of acquisitions, disposals and currencies.
The company boosted its guidance after opting not to do so when it reported its first-quarter results. It said then that its performance in the first three months of the year but that it was holding back because of the uncertainty created by factors including rising inflation and the war in Ukraine.Clients continue to invest in areas such as first-party data capabilities, digital media, commerce and business transformation, according to the company.
“They know that as they start to cut, they will lose market share faster than they will be able to recover when things get better,” Chief Executive Arthur Sadoun said in an interview. “For the moment, we haven’t seen any impact on our relationship with our clients.”
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