Havas reports 7.3% growth in Q3

Havas has reported 7.3% organic growth in the third quarter of 2011, with growth in all major markets except France. Group revenue was up 5% to $541.8 million.

“There’s a lot of uncertainty out there among our clients,” Havas CEO David Jones said. “A number of CEOs are saying they think next year will be a tougher year, and they’ll see what happens in Q1. There’s a real lack of visibility on how 2012 is going to pan out.”

Although he added that “a lot of people aren’t looking yet to cut”.

Havas is focusing its growth strategy on acquisition, startups and brand extensions, according to Jones. “We’re doing an enormous number of things in terms of startups and expanding our brands,” he said. “We’re not going to rush out and spend all our money on two big transactions we believe are overvalued.”

Havas reported net new business of $491.4 million in the third quarter, and $1.8 billion for the first nine months of 2011.