• by Joe Mandese  @mp_joemandese, September 1, 2009

Paris-based Havas, the parent of MPG, Havas Digital, and Euro RSCG, Monday reported a 7.4% decline in first half revenues and a 9.2% decline in "organic" results. The first half results were worse than those reported recently by other major agency holding companies (WPP, Publicis, Omnicom), and indicate Havas may be suffering more so from the global economic recession, as big clients continue to cut back on marketing expenditures.

Havas North America performed relatively worse than the group as a whole, with first half organic revenues declining 10.5%, and the second quarter declining 11.8% from year ago figures.

Havas' results follow a similar story from London-based Aegis Group, which reported a 10.8% decline in its organic first half revenues.

Aegis Media, which includes Carat, Isobar, Vizeum and Posterscope, performed slightly better than the group as a whole, with organic revenues declining 9.9%. Aegis management noted that the first half typically is weaker than the first half for its media operations, and also pointed out that the group now is deriving nearly a third (31%) of its revenues from digital media.

Aegis Media Americas' operations continued to under-perform, thought the company noted it is in the throes of a restructuring and a turnaround, including the recent appointment of former Isobar wunderkind Nigel Morris as CEO. The company said "plans are underway to deliver improved business performance" in the Americas, though it still is undergoing cutbacks in the short-term, including a further "streamlining" of "back office" functions.

Aegis attributed $5.7 million of $25.5 million in first half restructuring costs to its media operations, but implied most of the reorganization is behind Aegis Media, and that it is now focused on growth plans including: an expansion in digital media; a focus on emerging markets (particularly China); new products, insights and better integration; new services; and international and local new business.