Havas reports Q1 organic growth, revenue up 9.7% overall

PARIS: Havas reported $530 million in revenue for Q1, compared to $483 million for the same period last year, resulting in a gross increase of 9.7%.

PARIS: Havas reported $530 million in revenue for Q1, compared to $483 million for the same period last year, resulting in a gross increase of 9.7%. The global communications group owns Euro RSCG, Worldwide PR, and Abernathy MacGregor Group.

Havas' organic growth for the quarter rose 6.8%, compared to 1.5% in Q1 2010, according to the earnings announcement released today. Net new business was reported at $563 million. Standout Q1 account wins included Sonic in the US, and Dell and Pfizer globally. In addition, Turespana was picked up in Spain, and Danone in Mexico.

The Q1 results come on the heels of the appointment of David Jones as CEO last month, replacing Fernando Rod├ęs, who resigned in March to concentrate on his family and personal life.

All Havas regions reported strong growth. North America, in particular, posted an increase of 7.2% in organic growth, attributed to new accounts won in previous quarters and greater contributions from the advertising and healthcare communications sectors.

In Europe, France saw organic growth due to its media and advertising businesses, and the UK, as well, from its digital businesses and media performance.

Meanwhile, Asia-Pacific and Latin America also posted organic growth at 10.3%, and 24.6%, respectively. Latin America reported its fifth consecutive quarter of double-digit growth, due in large part to strong performance in Brazil and Argentina.

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

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