The global recession is roughing up smaller advertising companies even more than their bigger rivals, a lesson being learned by two companies partially owned by French industrialist Vincent
Bolloré.
Aegis Group PLC, in which Bolloré holds a 30% stake, reported that first-quarter revenue fell 12%, excluding the effects of acquisitions, divestments and currency
shifts. Havas SA, in which Bolloré holds a 32.9% stake and is also chairman, reported an 8.4% drop in first-quarter revenue, by the same measure.
Aegis and Havas are two of the small players among ad parent companies. "Small holding companies get hit harder because they're more committed to a smaller number of clients," says RBS analyst Justin Diddams.
advertisement
advertisement