Softness in Europe Adds to Havas' Revenue Doldrums

Havas, hit hard by worsening economic conditions in Europe and in marketing services, said fourth-quarter revenue dropped nearly 7 percent to $557.4 million from the same period in 2001. For all of 2002, Havas’ revenue fell 6 percent to $2.15 billion from 2001.

The Paris-based holding company, parent to the Arnold, Euro RSCG and Media Planning agency networks, said that while there was some improvement in the U.S. in the fourth quarter, the full year reflected the industry’s weak market conditions.