The head of agency group Havas is warning of another year of global advertising weakness.
The ad giant's ceo Alain de Pouzilhac believes the worldwide ad market will not fully recover until the fourth quarter of 2004 at the earliest.
He told French newspaper Les Echos that there will continue to be little visibility in the advertising sector in the coming months. De Pouzilhac is forecasting 3% to 3.5% global ad growth next year.
The Havas boss also promised that the group's dismal performance in the first half of 2003 – during which operating profits tumbled 41% [WAMN: 19-Sep-03] – would be the "last time" its results will disappoint.
Data sourced from: mad.co.uk; additional content by WARC staff