Havas Q3 revenues up 6.9%

PARIS: Havas reported $1.53 billion in revenues for the first three quarters of this year, a 6.9% increase compared to the first nine months of 2009.

PARIS: Havas reported $1.53 billion* in revenues for the first three quarters of this year, a 6.9% increase compared to the first nine months of 2009. Organic growth for the first three quarters was 2.9%.

The company, which owns PR agencies Euro RSCG Worldwide PR and Abernathy MacGregor Group, saw a 12.9% increase in third quarter year-over-year revenue, generating $514.8 million in the third quarter, compared to $456 million in the same period last year. Organic growth for the quarter was 5.3%.

The earnings indicate a rebound for the company, which this time last year saw revenue plunge 10% from the previous year amid the global recession.

Organic growth in North America was 5.5% in the third quarter, and revenue was up 17.6% to $177.6 million. But business in Latin America, particularly Brazil, led growth at the company. The company reported 38% organic growth in the region for the quarter, 30% organic growth year-to-date for the region.

*All figures were converted to US dollars from euros using the XE currency converter.

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