Havas Full Year Net Income Down 23% in 2006

09 April 2007

SURESNES, France: Havas, the global advertising holding company controlled by would-be Aegis predator Vincent Bolloré, posted disappointing full year results last week - with net income down year-on-year by 23% to €46 million ($61.55m; £31.31m)

The fall, which was attributed to an income tax expense, up from €14m to €25m, compares to €59m in 2005.

For the first time since 2001, annual revenue rose in 2006 gaining 0.6% in organic growth and 0.8% in actual growth. Net income before tax remained virtually stable at €83m.

Investment bank Lehman Brothers ranked the group world number one in terms of new business gains, which in 2006 totalled €1.931 billion - some 30% higher than Havas's average performance over the last four years.

Among the key global accounts won by the group's flagship Euro RSCG network were Sanofi-Aventis, Reckitt Benckiser, Boehringer Ingelheim and Orange (business-to-business).

Data sourced from multiple sources; additional content by WARC staff