Despite Olympics, Ad Biz Doesn't Grow

Vincent Bolloré's Havas has become the latest major marketing group to report anaemic growth in the three months to the end of September, with its European advertising business going into reverse despite the London 2012 Olympics. The marketing services group reported 2% year-on-year revenue growth to €428 milliion (£342 million) in the quarter, matching the recent financial results from fellow French rival Publicis Groupe and Sir Martin Sorrell's WPP which both warned of an advertising slow down.

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