Publicis expects Olympic boom

Publicis, the world’s third-largest advertising group, yesterday reported a growth of 13 per cent in first quarter sales but predicted a slower second quarter as clients shift their advertising budgets to coincide with the London Olympics and US presidential election. Organic growth in the first quarter was 4.1 per cent, while Publicis chief executive, Maurice Levy, said he aims this year to match last year’s 16 per cent operating margin.