Havas Unveils Q3 Results

07 November 2006

PARIS: Advertising services conglomerate Havas has posted a 1.9% rise in underlying third-quarter sales. Chairman Vincent Bolloré also said that net new business rose to €1.58 billion ($2.01bn; £1.05bn) in the nine months to September 30, more than doubling the €760 million achieved in the same period last year.

But the France-headquartered business saw revenue almost flat, with a gain of just 0.6% to €343m in Q3 and 2.1% to €1.06bn in the nine months.

The company said in a statement: "Most regions benefited from good momentum, supported by sustained activity in corporate communication, health and media services."

Q3 underlying revenue growth was 3.4% in France, 3.5% in the UK, a disappointing 1.8% in the Asia-Pacific region and 13.9% in Latin America.

The 2005 losses of the Volkswagen and Intel accounts in North America continued to affect revenues this quarter which saw a dip of 7.1%.

Havas says the impact of new business wins, such as food manufacturer Danone and household products maker Reckitt-Benckiser, will be fully felt in the fourth quarter.

Data sourced from Adweek (USA); additional content by WARC staff