Havas Reports a Slow First Half

BOSTON–Havas on Tuesday reported that its revenue and billings for the first half of 2002 dropped about 3 percent to approximately $1.01 billion and $6.75 billion, respectively, compared with the same period a year ago. Adjusted for currency fluctuations and acquisitions, the drop-off was about 5 percent.

The Paris-based holding company’s second-quarter revenue fell more than 5 percent to approximately $567 million, compared with the same period for 2001.

Particularly slow to grow, according to Havas, were traditional advertising services, especially in North America.

Havas said it won about $1.05 billion in global new business for the first half of 2002, roughly the same total it posted in 2001.

In accordance with French reporting practices, the company, parent to the Arnold, Euro RSCG and Media Planning agency networks, will not report net income until September.