Speaking yesterday at a Paris news conference, Havas chair Alain de Pouzilhac restated the global agency network’s target of hitting aggregated revenues of €2.2 billion ($1.98 billion) next year. Forty-five percent of this income, de Pouzilhac predicted, would derive from the USA.

Havas will also be seeking a profit margin of 15% on revenues, sixty percent of which will be generated by the group’s marketing services activities – compared with 45% in 1999.

These forecasts had been revised upward in the light of the group’s acquisition of US below-the-line network Snyder Communications, completion of which is expected by the end of next month. Organic growth of 15%-20% and a pretax profit margin of around 15% are anticipated for all Snyder's divisions.

Following the briefing. Havas stock rose on the Paris Bourse by 69 European cents to €24.09.

News source: Wall Street Journal