• by Paul Gough , June 8, 2004

Publicis Group SA, parent company of media shops Starcom MediaVest Group and ZenithOptimedia, hailed a general advertising recovery and said today that it had successfully integrated Bcom3 into the holding company's fold.

Publicis, like the other agency holding companies, have felt the impact of the worldwide advertising recession. But led by the strength of Starcom and its other media agencies, Publicis has been returning to health. Revenues in 2003 were up 32 percent to $3.86 billion Euros, which included a 2 percent increase in organic revenues. Publicis executives stressed that this was a return to growth that isn't dependent on acquisitions. It also led the industry with $4 billion in net new business wins in 2003.

"The global market is showing sure signs of recovery, including in Europe, even if they are less vigorous," said Maurice Levy in prepared remarks.The Paris company held its annual meeting this morning, as shareholders voted to boost its dividend slightly and return six board members to their positions for six-year terms.

Despite the tough times, Publicis said it was able to successfully integrate its largest acquisition, Bcom3, according to plan. Starcom MediaVest Group and ZenithOptimedia have been strengthened, with the purchase of minority interests in Starcom Motive and ZenithOptimedia. Publicis said there's a review going on "in order to further strengthen our performance in this field."