• by Joe Mandese  @mp_joemandese, September 16, 2004

Asserting that a second quarter improvement has drawn it "closer to the figures of certain of our competitors," Havas Chairman and CEO Alain de Pouzilhac said the company is on pace with the restructuring plan it unveiled last year that the company hoped would bring it into the league of the major global agency holding companies. But despite a return to profitability in the quarter, Havas' revenues fell 10 percent during the first half of 2004, and in the aftermath of its failed bid to grow itself by acquiring Grey Worldwide, is now seen as a takeover candidate itself.

Meanwhile, French corporate raider Vincent Bollore, an influential Havas investor, has raised his take in the company to 10.4 percent, and has asked for two seats on the Havas board, de Pouzilhac confirmed following the company's first half earnings release.

Meanwhile, Havas reported that growth in all regions was positive during the half, except its U.S. operations, which it said are still suffering from the loss of business in late 2003 and early 2004.

Nonetheless, de Pouzilhac described the half as a "very strong improvement in Havas' results."