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A weaker U.S. dollar hurt revenue at French agency holding companies in the first quarter. Publicis Groupe and Havas, which have been aggressive in making acquisitions in the U.S. in recent years, said organic revenue growth dropped because of the stronger euro and a March slowdown in the U.S. marketplace as the Iraqi conflict escalated.
Publicis’ organic revenue dropped 1.2 percent in the quarter. Including revenue from the Bcom3 acquisition last September, total revenue rose 57.1
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