Publicis Chief Says Advertising Market on Rebound
By Anna Johnson on November 2nd, 2009CEO of ad agency conglomerate, Publicis, Maurice Levy, reckons the advertising market is now recovering, after hitting rock-bottom in July.
As reported by the Wall Street Journal (by way of Silicon Alley Insider) Publicis is responding to the recovery by looking for acquisition targets in China and India. The company also expects to outperform the 10 percent decline in advertising for the remainder of 2009, and to start growing again by 2010.
Nevertheless, Levy intends to continue cutting costs to maintain Publicis’ margins and to hopefully match its 16.7 percent margins of 2007 and 2008.
