Havas Group income up 40% in first half

PARIS: Havas Group's main businesses enjoyed "strong growth" in the first half ending June 30, and the Group reported overall net income of $72 million (€49 million), an increase of 40% compared to $51.4 million (€35 million) at the same time last year.

PARIS: Havas Group's main businesses enjoyed "strong growth" in the first half ending June 30, and the Group reported overall net income of $72 million (€49 million), an increase of 40% compared to $51.4 million (€35 million) at the same time last year.

The holding company, which includes agencies Euro RSCG Magnet and Abernathy MacGregor, had already reported first-year revenues, which were up 3.6%, but had not yet released profit numbers. It did not break down revenues by discipline.

"We don't actually break out the percentages of each individual discipline," David Jones, global CEO of Euro RSCG Worldwide and MD of Havas, told PRWeek. "But if you look at the PR and corporate and financial PR entities, as a whole, they are experiencing double-digit growth. Abernathy MacGregor and Euro RSCG PR in the US have been very strong contributors to this [overall] growth."

Looking forward, the Group said it will rely on $1.66 billion (€1,133 billion) in new business for continued success.

"We're cautiously optimistic is the way we'd put it," Jones said. "With all the things that are going on in the global economy, I think that the end of the year is not necessarily going to be easy for our industry and I don't think 2009 will necessarily be that easy. But I think we're pleased with the results of the first six months, without getting carried away."

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