Media giant Havas has announced an increase in revenues of 2.6% year on year for Q1 2006, reaching €339 million.
On a like for like basis, the company states that organic growth was down by 2.4% however, with Havas stating it is still suffering from last year’s losses.
The company’s operations in France remained stable, with revenue sticking at €70 million, However, the company states that good growth in the traditional advertising and Corporate Finance businesses has been achieved here.
Continental Europe saw a rise of €5 million in revenues year on year, thanks mainly to increases in Spain and Italy.
Havas’ operations in Great Britain saw a €1 million downturn in revenues meanwhile, although the company remained upbeat, stating that marketing services, unlike traditional advertising, have seen their revenue grow in the UK.
North America increased Havas’ revenues by €2 million year on year in Q1, but was held back by being the first quarter without the lucrative Volkswagen contract. Conversely, it was positively impacted by the stronger dollar.
The Asia Pacific region recorded revenues of €13 million compared to € 14 million in Q1 2005, with the company’s trading update reporting it has “not yet fully offset the loss of major accounts in 2005.”
Elsewhere, Latin America continued to perform well, with revenues of €13 million, versus €9 million in Q1 2005.
Havas’ net new business for the first quarter of 2006 stands at €620 million, with the company striking an optimistic stance as it “is clearly moving in the right direction.” The company states that positive growth in the second half of 2006 is now expected.
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