Havas to Reorganize as Revenue Declines

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BOSTON Havas on Thursday reported revenue for the first half of the year of approximately $945 million, down nearly 20 percent from the first half of 2002, and down about 8 percent based on constant exchange rates. The Paris-based holding company said it is undertaking a reorganization of operations in an effort to improve its numbers.

Havas said it won about $1 billion in new business during the first half of 2003, down more than 5 percent based on constant exchange rates.

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