Paris-based holding company Havas today reported 2009 net income of $125 million, down 11.5 percent from last year.
The firm's revenue was about $1.95 billion, down almost 8 percent in organic terms from the previous year, factoring out the impact of currency fluctuations and acquisitions.
Havas saw some improvement in the fourth quarter, when revenue dropped 4.4. It had dropped 9.2 percent in the previous three quarters.
The company's overall performance was more or less in line with its competitors, and its dip in profit today generally met analysts' projections.
During '09, Havas performed best in Latin America, where its revenue rose 1.1 percent, the only region in which the company saw an improvement. Revenue fell 14.2 percent in the Asia-Pacific sector; 8.6 percent in Europe; and 7.5 percent in North America.
On the plus side, the company added net new business of $1.71 billion during ’09. Another positive sign: digital services now total 16 percent of Havas’ revenue, up from less than 10 percent three years.
Havas owns Euro RSCG, MPG and Arnold.
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