Describing the results as a "turnaround," Chairman-CEO Alain de Pouzilhac said detailed results released in early March would "show, moreover, that all the targets management had set itself over the year have been achieved and even exceeded."
Havas said the 3.4 percent growth of its U.S. operations were due mainly to "record" new business activity at Arnold, MPG and the Healthcare and Marketing Services unit at Euro RSCG. Recently, MPG lost about $200 million in media buying duties for Volkswagen due to a consolidation at Volkswagen's global media agency MediaCom. But it lost the nearly $300 million media account for Intel Corp.
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Havas' Organic Revenue Growth
Q4 2004 Full Year 2004
North America +3.4% -1.9%
Worldwide +4.6% +2.0%
Source: Havas financial
release.