Havas reports modest first-half growth but Europe lags behind US

French marcoms group Havas has posted modest organic growth during the first half of 2010 and reported an improving trading environment.

Chairman: Vincent Bolloré
Chairman: Vincent Bolloré
The group recorded organic growth of 1.8% over the first half of the year, compared to the same period in 2009.
It also saw a 28.6% rise in operating income to €81m, although this falls short of €91m it recorded in H1 2008.
The group performed better away from its core European markets, seeing 4.9% organic growth in North America and 25.2% growth in Latin America.
The group said North America 'continues to be the powerhouse for the group’s growth, thanks to the advertising, healthcare communication and media businesses'.
The UK saw a 1.7% climb in organic revenue and a healthy 4.6% growth on Q2 figures compared to 2009. In France revenues declined on an organic basis by 1.6%, largely due to losing its lucrative Carrefour account. The rest of Europe also struggled, dropping back 5.7%.
Digital business accounted for 17% of its total revenue, against 16% over the same period last year.
The results include figures for both Havas Media and Havas Worldwide. Vincent Bolloré is the group's chairman.

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