The leap is due to the consolidation of revenues from Bcom3, which was taken over by Publicis in September last year.
However, Publicis also saw an improvement in revenues in the fourth quarter of the year, compared with the first three quarters of the year, and the company has said that it is confident of delivering a profit margin of 15% in 2003.
Maurice Levy, chairman and CEO of Publicis Groupe, said: "Our 2002 numbers lead me to believe that we should be in a position to realise an earnings before interest and taxation margin in the vicinity of 14% on our revenues, which is in line with our objective. As for 2003, I remain personally confident of our ability to reach a margin of 15% Ebitda towards the end of the year.
Over the last 12 months in Europe, organic growth for Publicis Groupe fell by 5.8%, although with the acquisition of Bcom3, the actual figure was up by 14.7% to 拢840m. North American organic revenue fell by 3.7%, also to 拢840m.
New business won in the fourth quarter of the year included Saatchi & Saatchi Worldwide's Toyota Avensis win in Europe; Leo Burnett Worldwide's appointment to the US Gap account; Publicis Worldwide's Nike win in Australia; and Zenith Optimedia taking the McDonald's account in China. Losses included Nikon and Timex in the US; Telewest in the UK; and the media accounts for Columbia TriStar and Walkers.
The quarter also saw moves to close the D'Arcy network in the wake of the Bcom3 merger, with many of the accounts moving to sister network Leo Burnett. The company is now reported to be looking at reorganising its marketing services offering, including the global direct marketing agency Publicis Dialog and Arc in the UK, and has laid out plans for a shake-up of senior agency management in New York.
Shares in Publicis, trading on the Paris Bourse, rose by 1.23% when the market opened, at 拢12.61, a rise of 拢0.15.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .