Paris-based Publicis Groupe is the latest media organisation to suspend its financial guidance in the face of the coronavirus and follows IPG’s decision to do the same late last week.
In a statement over the weekend, Publicis said: “As industry peers and other media companies have already communicated, it is difficult to accurately predict the evolution of advertising and marketing spend.”
The Groupe did point out that its revenues at the finish of February had been consistent with its 2020 guidance. The corporate’s first-quarter income will likely be announced on April 23, 2020 earlier than the market opens.
Publicis in February backed its 2020 view of organic revenue being between two per cent lower and one per cent higher, and hasn’t withdrawn this guidance.
It added that 95 per cent of Publicis’ 13,000 worldwide staff is presently working from home due to the global pandemic.
It additionally underlined the Groupe’s message last week that it could proceed to guard all stakeholders’ pursuits and “rigorously manage all costs, particularly during this period.”
Final month Publicis reported web income in 2019 was up 9.3 per cent with a 2.3 per cent decline in natural development.