Havas Friday reported organic growth of 3.2% for the first quarter of 2007, but said the strong valuation of the Euro "penalized" the relatively weak results of its North American operations, which
declined 0.8%. Havas, the parent of MPG and Havas Media, said its "situation was positive in media buying, healthcare and corporate communications," relative to the weaker performance of its North
American advertising and marketing services units.
"Certain agencies returned to high growth while others were closer to the bottom of the cycle. Arnold Boston should reap the benefits of the
recently awarded Volvo account from the second half of the year onwards," the French agency holding company reported.