Havas Posts 59% Leap in Profits

05 March 2001

Network Havas Advertising on Friday posted full-year results for 2000 showing a 59% jump in net profits to 89.2 million euros ($83.3m), compared to 56.1m euros in 1999.

The group also announced a 49% surge in revenue to 1.8 billion euros. Excluding the contribution of Snyder Communications, acquired by Havas last September [WAMN: 26-Sep-00], revenues rose 22% on 1999.

Moreover, despite the slowdown in advertising, chairman Alain de Pouzilhac remained upbeat about the coming year: “The outlook for Havas Advertising for 2001 and beyond looks very positive,” he said.

De Pouzilhac also revealed that Havas’s acquisition strategy has changed to include traditional advertising alongside marketing services – a change of heart since comments he made last year.

“Integrated communication carries our business and traditional advertising is the key to winning clients,” de De Pouzilhac now believes. “We will therefore look at opportunities in traditional advertising to develop marketing services from that.”

News source: Wall Street Journal