Havas Reports 2001 Results

BOSTON–Havas on Wednesday as expected reported dismal full-year 2001 results.

The Paris-based holding company lost approximately $50 million for the year based on the current of exchange and excluding various goodwill items, compared with a profit of almost $80 million for 2000. Havas last month reported 2001 revenue of about $1.95 billion, flat compared with 2000. The company took major charges in 2001 for a broad corporate restructuring.

Paris-based Havas is the fifth-largest agency holding company, parent to the Arnold, Euro RSCG and Media Planning global networks.