Havas revenue up, but net new business down in Q1
Havas' first-quarter 2011 revenue increased 9.7% to $530 million, compared with the previous year, the company said April 27 in an earnings statement. The holding company, which owns and operates Euro RSCG and Arnold Worldwide, among other agencies, saw $563 million in net new business in Q1, a drop of 33% compared with the first quarter of 2010.
North American revenue increased 10% in the quarter to $184 million, compared with Q1 2010.
“The group achieved good growth in the first quarter of 2011, thanks in particular to the American market but also to solid recovery in Europe,” said David Jones, CEO of Havas, in an earnings statement. “New business stayed strong, thanks to wins like the Dell and Pfizer worldwide accounts.”
The most significant account wins in Q1 2011, according to the earnings statement, include Dell and Pfizer globally, and Sonic in the US.
Jones replaced former Havas CEO Fernando Rodés, who resigned on March 8.