Havas reports organic growth of 5.9% in 2011

Havas has released its 2011 annual results this morning, reporting organic growth of 5.9% during the year.

David Jones: annual results
David Jones: annual results

The French marketing group that owns Havas Sports and Entertainment, Maitland and Cake Group unveiled a 9% rise in net income to £100m.

Havas CEO David Jones said: ‘It was another strong year for Havas driven by aggressive growth in digital, double digit results in emerging markets and the growth from our major global accounts.

‘At the same time, we were successful in reducing costs in 2011 and generated an increase in margins as a result. Our new business performance and pipeline remain solid as we move into 2012.'

The group reported that 16% of its revenue came from the fast growing markets in Latin America and Asia-Pacific.

But Europe’s organic growth was weakest and was just 2.4% in the UK, with revenue for the year of £150m.

Havas’ net debt stood at £31m at 31 December, 2011, compared with a net cash position of £73m at December 31, 2010. Havas puts this principally down to the acquisition of its new headquarters building in Puteaux, France, which represented an investment of £133m funded from cash flow.

Notable wins for the group include Cake’s appointment as social media agency for Sony in the UK.

Income from Operations was £184m in 2011, up from £171m in 2010.

Digital and social media now make 23% of the group’s income.

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