Organic net revenue growth was disappointing in Q2 19 (+0.1%). Publicis continued to be affected by the attrition of revenue in traditional advertising in the US. The short-term outlook is less favourable so that organic net revenue should be stable in 2019 (vs +0.8% at least previously). Conversely, the operating margin improvement, excluding the Epsilon-related transaction cost, was of good quality in H1 19 (15% of net revenue, +0.6pt) thanks to significant cost savings partly reinvested in
19 Jul 2019
Weak organic net revenue growth
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Weak organic net revenue growth
Publicis Groupe SA (PUB:WBO) | 0 0 0.4% | Mkt Cap: 14,432m
- Published:
19 Jul 2019 -
Author:
Hélène Coumes -
Pages:
3
Organic net revenue growth was disappointing in Q2 19 (+0.1%). Publicis continued to be affected by the attrition of revenue in traditional advertising in the US. The short-term outlook is less favourable so that organic net revenue should be stable in 2019 (vs +0.8% at least previously). Conversely, the operating margin improvement, excluding the Epsilon-related transaction cost, was of good quality in H1 19 (15% of net revenue, +0.6pt) thanks to significant cost savings partly reinvested in