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.
The PDF of the full Havas press release distributed from Paris is here. Havas, which includes the EuroRSCG firms, and Abernathy McGreggor in the U.S., is the 6th largest ad group worldwide.