Publicis Groupe, the 25% shareholder in Insight Communications, Nigeria’s largest advertising group said its Q3 revenue for Africa rose by 11.5%.
The group said its African gross revenue for the third quarter of the year rose to EUR68 million. Last year, the group reported EUR61 million. This is an impressive growth bearing in mind that most African markets are facing series of headwinds.
Publicis Groupe’s gross revenue fell by 0.4% to EUR2,315 billion. Last year, the company reported gross revenue of EUR2,325 billion.
The company also reported that it won the following accounts during the quarter:
- P&G’s dish: Publicis Communications / Publicis.Sapient
- Asda: Publicis Communications / Publicis MediaGSK: Publicis Communications / Publicis.Sapient
- Wal-Mart: Publicis Communications / Publicis.Sapient
- HPE: Publicis Communications / Publicis.Sapient
- Coty: Publicis Media / MSL
- USAA: Publicis Communications / Publicis.Sapient / Publicis Media
Publicis Groupe also disclosed that it lost the following businesses
- Wal-Mart (media)
- Tracfone (media)
- McDonald’s (creative)
Also, the company reported that its organic growth rose from 0% to +5% Belgium, Brazil, China, India, South Africa, UK.
Within the quarter, Publicis has acquired the following companies: Star Reacher, Sapient, B2B, Expicient, Practice iLeo Romania, Relaxnews, C, Match Media, Domani, AKOM 360, TMC, Voden, 2DataFish, Frubis, The Solution Group, Glickman, TCC, First Click, August Media, Langland, PDI, MercerBell, Vertiba, Seven Seconds, Insight Redéfini, Venus Communications, Arcade, Digitouch, PT Publicis Metro Indonesia, PT Indonesia Media Exchange.
As a guidance, Publicis does not report its holding in Insight Communications explicitly. Just as AXA treats and reports AXA Mansard Nigeria, Publicis Groupe uses the ‘consolidation under equity method’ which means the company- the parent company essentially treats the subsidiary company as if it doesn’t exist. All of the subsidiary company’s assets and liabilities appear on the parent company’s balance sheet, and all of the subsidiary company’s revenue, expenses, gains and losses appear on the parent company’s income statement.
It could be recalled that Insight communications sold 25% stake in its communications unit to Publicis Groupe. The company has since finalised the deal.
