Havas reports 8.0% organic growth in first half

PARIS: Havas Group reported revenue of approximately $1.19 billion (€755 million) for the first half of 2008, up 3.6% from the same period last year at the current exchange rate.

PARIS: Havas Group reported revenue of approximately $1.19 billion for the first half of 2008, up 3.6% from the same period last year at the current exchange rate. At constant exchange rates, the increase is 10.6%. In April, the company reported approximately $551 million in revenue for the first quarter.

Revenue growth in the corporate communications and media expertise divisions contributed to increase in revenue for the first half, and organic growth for the first half was 8.0%, thanks in part to strong organic growth from subsidiary Euro RSCG Worldwide, which saw 6.6% organic growth. Euro RSCG in the US posted double-digit growth, in part because the company "adopted the new business model putting digital at the core," the company said. It did not break down revenues by discipline.

"The days of corporate communications and PR campaigns just dealing with the newspaper and magazine world is over and the Internet plays a key role," David Jones, global CEO of Euro RSCG Worldwide and MD of Havas, told PRWeek. "[The agencies have] really been digitally integrated for a while now, and [there was] a very strong performance from Abernathy McGregor. Euro RSCG PR [saw] some strong wins and good performance from them. Overall, corporate communications and PR has been one of the star performers in the first six months of the year."

"We are now preparing for a more fragile economic environment but our performance, which exceeded our expectations, leaves us comfortable about our ability to react," said Fernando Rodés Vilà, CEO, in a statement.

Havas' PR agencies include Euro RSCG Magnet and Abernathy MacGregor.

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