Publicis reports profit drop

Publicis Groupe has reported a 1.1% drop in full-year net profit and predicts a “very difficult” 2009.

The marketing services group, which owns Fallon and Starcom MediaVest, says net income was €447m (£447m) in 2008, down from €452m (£404m) in 2007.

Group revenues climbed 0.7% to €4.7bn (£4.2bn) while European revenues dipped 2.6% on 2007.

The Maurice Levy (pictured) fronted company says organic growth increased 3.8%.

The group says despite the “many challenges” ahead it remains “confident” because of its “solid” balance sheet and “flexible” organisation”.