French advertiser Publicis cut its 2015 sales forecast on Wednesday, warning that tougher conditions in the UK and Latin America may dampen the improvement seen in the first half.
Organic sales, which strip out currency effects, disposals and acquisitions, rose 1.4 percent in the second quarter after a 0.9 percent year-on-year gain in the first, Publicis said.
But the Paris-based company reduced its full-year agencies market growth forecast to 2.5 percent from 3 percent and said its own sales would remain "in line" with the trimmed outlook.
"We know that the third and fourth quarters will be better," said Chairman and CEO Maurice Levy. Publicis had in April pledged a 2015 sales gain in line with the 3 percent market growth it forecast at the time.
Improving trends in France, Germany and Italy will be partially offset by "slight downturns" in the UK and Latin American markets, particularly Brazil, the company predicted on Wednesday.