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Bcom3 Acquisition Boosts Billings, but not Profit

By Published on .

NEW YORK (AdAge.com) -- Publicis Groupe posted weak results for 2002, in spite of its acquisition of Bcom3 Group.

The French company, parent of advertising networks including Saatchi & Saatchi and Fallon Worldwide, posted net income of $162.4 million,

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down 2.6% for the year, or up 10.2% to $261.7 million before accounting for goodwill.

Fourth-largest agency company
The results include the operations of Bcom3 for three months and five days after it merged into Publicis Sept. 24; the merger made Publicis the fourth-largest agency holding company.

Publicis had previously reported $3.14 billion in 2002 revenue, a 20.2% increase mainly due to the addition of Bcom3. Publicis-only revenues -- not including Bcom3's results -- were $2.54 billion, down 2.8%.

The Bcom3 acquisition also helped Publicis billings to grow 48.5% to $27.3 billion. Net new business for the year was $2.4 billion.

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