Havas reports organic growth, overall revenue drop in 2004

SURESNES, FRANCE: Havas today announced $519 million in revenue for the fourth quarter and a 4.6% organic growth rate compared to the fourth quarter of 2003.

SURESNES, FRANCE: Havas today announced $519 million in revenue for the fourth quarter and a 4.6% organic growth rate compared to the fourth quarter of 2003.

The company's revenue totaled $1.9 billion in 2004, a 2% organic growth rate over the previous year.

Organic growth does not include the impact of the exchange rate or acquisitions. Havas' overall revenue last year was down $200 million, from $2.1 billion in 2003.

The fourth quarter organic growth rate was the largest yet in a year of successive positive quarters. In a statement, Havas chairman and CEO Alain de Pouzilhac called the growth "the clearest possible demonstration that our strategy is the right one and is bearing fruit."

Organic growth rates for the quarter were 3.4% in North America, 6.4% in France, 2.4% in the UK, and 6.4% in France compared to the fourth quarter of 2003. The Asian-Pacific and Latin American markets both grew more than 10%, but they each represent only about 5% of Havas' total revenue for the quarter.

Havas agencies include Euro RSCG and Abernathy MacGregor. It did not break down revenue by disciplines.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.