PARIS: North America was a principal contributor to strong second-quarter growth at agency network Havas, owner of PR agencies Euro RSCG PR, Abernathy MacGregor and Cake.
Havas reported revenue of $926 million for the first half of 2010, up 4.2% year on year from $889.2 million.* The holding company attributes its performance to growth in North America, where revenues were $166.4 million for the quarter and $311.3 million for the half, compared to $148.6 million and $293.5 million, respectively, in 2009. Havas reported particular growth in the advertising, healthcare communication, and media businesses in North America.
The first half of 2010 indicated a return to the success the company had in the first half of 2008, when revenue was $959.1 million.
Q2 revenue was $508.1 million, up 6.7% from $476.4 million in Q2 2009. Organic growth for the quarter was 2%, bringing organic growth for the first half up to 1.8%. It was 1.5% in the first quarter.
Net income from the half was $62.25 million, up 22.5% from $50.81 in H1 2009. Net income from the first half of 2008 was also $62.25 million.
Digital business accounts for 17% of Havas' total revenue, relatively flat compared to 16% in H1 2009.
*All figures were converted to US dollars from euros using the XE currency converter.