The coming year holds little joy for the advertising industry, promising continued recession, according to Havas Advertising chairman Alain de Pouzilhac.

Speaking at a meeting with analysts, de Pouzilhac revealed the French ad giant is planning its budgets this year around a slide in global adspend of up to 2%, with a 1.5% fall in the US and a 2% decline in Europe.

He added that Havas is on course to hit its 2001 target of an EBIT (earnings before interest and tax) margin of 10%–12%.

The comments came as Havas announced a new human resources consulting and services group dubbed HR Gardens and comprising five Havas-owned companies – French shops Euro RSCG Futurs and The Link; the Riley group and Heist in the UK; and EMDS in Europe and Asia.

News source: BrandRepublic (UK); Havas website