• by Joe Mandese  @mp_joemandese, November 4, 2004

Havas, the parent of Arnold and MPG, which is rumored to be the focus of a potential hostile takeover bid, Thursday reported a 2.1 percent rise in comparable third-quarter revenues. The results were driven primarily by new business wins and growth in European markets.

The company said trends are improving sequentially in the U.S. vs. the second quarter of 2004, citing a "continued recovery of marketing services" and "strong performances" from Arnold and MPG. North American revenues declined 0.9 percent from the third quarter of 2003, though that represents a moderation of year-to-date results in which North American revenues fell 3.6 percent.

In the announcement, Alain de Pouzilhac, chairman-CEO of the Paris-based agency holding company, made no references to an ambitious restructuring plan initiated last year that was intended to transform Havas into a major advertising powerhouse, or to speculation that the company might be facing a takeover.

"I can only be delighted by the acceleration of our growth in the third quarter," stated de Pouzilhac, adding, "It shows that the recovery that began almost one year ago is undisputable."