Levy is optimistic for Publicis after General Motors win

by Staff, Brand Republic 01-Jun-05, 15:30

PARIS - Maurice Levy, chairman and chief executive of Publicis Groupe, has said he is optimistic for the company's prospects this year and next, following good new-business wins including the $3.5bn General Motors media account.

Speaking at the company's annual general meeting today, Levy told shareholders that Publicis should outpace global advertising growth rates of 3%.

He also said that the company would maintain a profit margin for 2005 above 15%, and that by 2008, the company's profit margin would have increased to 17%, compared with 15.4% last year.

Levy's optimism stems from solid growth in the US economy as well as new-business wins, including the General Motors US media account, worth up to $3.5bn a year, won by Starcom MediaVest last month.

"Europe is stagnating, it is gloomy. America is going forward and this situation should be good for us because we have more business in the US than in Europe," he said.

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