Havas H1 Revenues Rise 2.8%

28 July 2006

Havas, number five in the world agency pecking order, performed solidly in fiscal terms during the first half of 2006, posting revenues of €719 million ($915.4m; £491.5m) - 2.8% up on the same period last year.

New business wins during the first half - excluding Euro RSCG's recent $1.5 billion Reckitt Benckiser account - totalled €900m.

By region, the group's performance was inconsistent.

In the UK, organic growth slipped 1% to €84m, while the vital North American market fell 5.3% to €274m. Asia-Pacific growth also declined by 4.8% to €28m.

In its own backyard, however, Havas enjoyed slightly greater cheer with organic revenues up 2.6% to €154m. Elsewhere in Europe (excluding the UK) the results were better yet - up 8.2% to €151m.

Topping the lot by far was Latin America where organic growth hit 16.5% to generate revenues of €28m.

Across the group as a whole, however, organic growth was disappointing at just 0.2 per cent. Havas chairman Vincent Bolloré, the group's largest shareholder, made no comment.

In public.

Data sourced from MediaGuardian.co.uk; additional content by WARC staff