Publicis expects profitability to return to its 2007 peak, when margins hit 16.7 per cent, by 2011 as the communications conglomerate eyes a recovery in advertising spending next year.

Reporting its third-quarter results on Tuesday, Publicis, which owns agencies including Saatchi & Saatchi and Digitas, said revenues in the three months to September 30 fell 5.3 per cent to €1.05bn, broadly in line with market expectations.