Havas Revenue Up with Increased Ad Demand, and New Business
French advertising group Havas (Euronext Paris: HAV.PA) reported a 5.3% increase in revenue today, driven by pent up demand in ad sales industry wide. Growth was strong in North America, due to conversion of new business landed in previous quarters and by a good showing by Euro RSCG New York, and EuroRSCG PR.
The modest “organic” revenue number (excludes revenue from acquisitions) is consistent with CEO David Jones’ comments to Dow Jones last month. Despite the somewhat tepid rebound, Jones plans to forge ahead with M&A, targeting digital, healthcare, and firms in emerging markets.
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