Financial Roundup: Agencies, The Media

13 September 2004

Global (calendar H1)

  • Publicis Groupe
       The Paris-headquartered agency holding company boasted a first half net profit rise of 23% from €65 million ($79.4m; £44.4m) last year to €80m following a cut in its tax rate.
       The reduction in its tax bill from 37.8% to 34.5% is due to internal mergers and fewer legal entities in the company.
       Although organic revenue growth climbed 4.5%, overall revenue was down slightly from €1.87bn to €1.85bn.

    Global (calendar H1)
  • Lagardère
       The globe's top magazine publisher reported falling first-half profits at its press and magazine unit, attributed to the launch of three new titles.
       These have, however, performed well in summer sales and are expected to boost profits in the second half of the year.
       Operating income at the media business climbed by 14.2% to €196.8 million ($241.5m; £134.5m) on the back of increased earnings at its radio, television and book publishing units.
       Chairman Arnaud Lagardère accordingly upped his forecast for media operating profits growth to 7%-10% from an earlier prediction of 4%-8%.
    He cautioned, however, that the revised figure "does not signal a recovery in magazine advertising."

    Data sourced from: Financial Times; additional content by WARC staff