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Publicis Groupe said first-quarter revenue, dragged down by the weak dollar, dropped 4.3 percent to $1.06 billion. Organic growth, excluding the impact of foreign exchange and acquisitions, jumped 4.4 percent.
In a conference call with investors, Publicis CEO Maurice Lévy said growth was especially good in North America, Asia-Pacific and Latin America and the company is well on its way to meeting its goal of a 15 percent operating margin for 2004.
While Europe lags the rest of the world in the industry recovery, Lévy said Italy and Spain posted a strong first quarter, and he expects France and Germany to show modest growth in the second half.
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