Havas sees strong Latin America performance, but Europe lags

Havas, owner of Cake, Maitland and Euro RSCG, has reported 3.5% organic growth for the full year 2010.

Havas CEO: Fernando Rodés
Havas CEO: Fernando Rodés
This marks a significant recovery from the 7.9% drop in organic growth it recorded in 2009.

Overall, the group recorded revenues of €1.56bn during 2010, a rise of 8.1% from the previous year.

Havas does not break down its revenues by sector, but there was a marked difference in performance geographically.

Its revenue in the 'rest of the world' jumped by 18.7% (with 27.4% growth in Latin America), while North America lagged behind on 5.4% growth and the UK and Europe saw revenue drop by 0.7%. The performance in Europe was, however, significantly better than the 8.6% drop it experienced in 2009 and revenue grew in the fourth quarter of 2010 by 1.2%.

Meanwhile, Havas CEO Fernando Rodés has stepped down from his role to 'give a new direction to his personal and family entrepreneurial activities'. David Jones, global CEO of Havas Worldwide Euro RSCG Worldwide, was named as his replacement.

Vincent Bollore remains Havas' top shareholder and chairman.

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