Havas reports 9.3% increase in revenue
Global advertising and communications services group Havas has released its third quarter results. Reporting a 9.3% increase in organic growth, it has attained a sharp escalation from a rise of 5.4% in the second quarter and of 3.2% in the first quarter.
Cumulatively, organic growth has risen 6.0% for the first nine months of 2007. In addition, revenue has progressed beyond expectation, totaling Ç1.1 billion ($1.6 billion) for the first three quarters of 2007, marking a 3.3% increase over the corresponding period in 2006.
Havas Group CEO Fernando Rodes Vila said, in a statement, "We are very happy with our growth in Q3, and feel all the more comfortable about achieving our objectives for the full year of 2007."
The strengthening of the Euro against the US dollar adversely affected the group by Ç29 million in the first nine months of 2007, compared with the corresponding period in 2006. Net new business totaled Ç256 million ($367.5 million) in Q3 2007, bringing the total for the first nine months to Ç1.5 billion ($2.2 billion), versus Ç1,580 million ($2.3 billion) for the corresponding period in 2006.
Headquartered in Paris, Havas operates through its extensive worldwide network maintaining offices in more than 75 countries and employing more than 14,000 people. Euro RSCG (New York), McKinney (Durham, NC), Sharpe Blackmore (Toronto) and Thompson Communications (Cyprus) are a few of its agencies concentrating efforts in the field of direct and online marketing.