Havas First Half: Revenue up 5%; Profits up 10%

Havas, the Paris-based advertising holding company reported first half revenues of just over $1.1 billion, up 5% with a 10% gain in consolidated net income to $80 million. The company reported organic revenue growth of 5.6%, which was low compared to the other holding companies for the same period. Publicis Groupe, for example, reported 7.1% organic growth for the first half. The comparable figures for Interpublic Group and Omnicom were 6.8% and 6.2% respectively. And last week, WPP reported organic growth for the period of 6.2%. For the North American region, Havas reported revenues of $364 million, up about 3% from the same period a year ago. Organic growth (excluding acquisitions, asset sales and currency fluctuations) for the region was stronger, exceeding 8%, the company said. For Europe, revenues were up 2% to $586 million, with organic growth of 1.3%. Revenues for the other regions was up a combined 23% to $154 million. Organic growth was up a combined 18.2%. The company reported a number of new wins for the period, with total billings of nearly $1.4 billion, with new assignments from Dell, Pfizer, Unilever and others.
Next story loading loading..