Havas Revenues Go Positive But UK And US Still Down
French advertising giant Havas today announced that revenue for Q1 2004 has increased by 0.7% to reach €357 million, reversing the trend from Q4 2003, when it fell by 3.8%.
Most regions with Havas operations experienced organic growth for the quarter, except for North America and the UK, which fell by 3.4% and 4.6% respectively. Although revenue’s declined, the overall trend for these countries improved says Havas.
The strongest growth was in its home market France, where organic growth more than doubled its Q4 2003 results to reach nearly an 8% increase. Latin America and Asia-Pacific also performed well and saw revenue’s rise by 7.6% and 6.8% respectively.
Billing’s for the Q1 reached €2.4 billion showing a “satisfying result in a global environment with recovery in advertising spending still very uncertain, although there is an undeniable improvement in the USA and Asia-Pacific” said chairman and ceo, Alain de Pouzilhac.
Pouzilhac added: “I am happy for our shareholders, employees and all those who have put their faith in us, that Havas has reversed the trend in first quarter 2004 and returned positive organic growth.”
This year Havas sold off six companies and 75% of the UK agency, WCRS to its management and said that 80% of total disposal has now been completed.
When speaking of future objectives for Havas, Pouzilhac said: “We continue to focus on our ambition as a “challenger”: achieving the double objective of positive organic growth and a strong improvement in our profitability.”
Havas: www.havas.com
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