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Havas Reports First Half Results

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BOSTON -- Havas on Friday reported that its income dropped nearly 10% to $114 million in the first six-months of 2002, compared with the same period a year ago, based on the current rate of exchange.

Adjusted to include goodwill amortization, taxes and other factors, Havas' first-half income was approximately $15 million , compared with a first-half loss of $27 million last year, when the company undertook a sweeping and costly restructuring plan.

The Paris-based holding company reported first-half revenue of slighly more than $1 billion, down about 3% from the same period in 2001. Havas is parent to the Arnold, Euro RSCG and Media Planning agency networks.