FRENCH advertising group Publicis beat forecasts yesterday by posting third-quarter sales of €1.32bn (£1.17bn), prompting the firm to almost double its growth forecast for the year to around six per cent.
Maurice Levy, chief executive of the world’s third-largest ad group, said the economic recovery would continue to boost the ad sector next year, despite concerns over employment and government austerity measures.
“We expect the global ad market to grow at about the same pace next year as we have seen this year,” he said.“The indications we have for next year is that the situation in the US and Europe is improving, and that emerging markets will continue to provide most of the growth.”
Publicis shares were up 4.6 per cent at €37.39 in Paris trading yesterday.
US and UK ad sales were particularly strong, with 12 per cent and 9.3 per cent growth respectively, and new contracts with Sony and H&R Block.