Publicis produced a better than expected operating margin over H1 15 (flat at 13%) despite still poor top-line organic growth (Q2 at 1.4%, improving from +0.9% in Q1; H1 at +1.2% when Omnicom is at +5.2%). Reported figures were boosted by the forex impact (+14.2% on revenues) and perimeter changes (+19.7% impact), namely coming from Sapient. Forex and acquisitions supported the operating margin (+20bp) as did personnel costs (+20bp), offsetting the rise in other opex (-40bp impact). In line w
28 Jul 2015
Satisfactory operating margin despite still low organic trends
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Satisfactory operating margin despite still low organic trends
Publicis Groupe SA (PUB:WBO) | 0 0 0.4% | Mkt Cap: 14,432m
- Published:
28 Jul 2015 -
Author:
Véronique Cabioc'h -
Pages:
2
Publicis produced a better than expected operating margin over H1 15 (flat at 13%) despite still poor top-line organic growth (Q2 at 1.4%, improving from +0.9% in Q1; H1 at +1.2% when Omnicom is at +5.2%). Reported figures were boosted by the forex impact (+14.2% on revenues) and perimeter changes (+19.7% impact), namely coming from Sapient. Forex and acquisitions supported the operating margin (+20bp) as did personnel costs (+20bp), offsetting the rise in other opex (-40bp impact). In line w