Havas reports organic growth for Q1

PARIS: Havas reported like-for-like global revenues grew 1.5% in the first quarter of 2010, with the company's North American operation also reporting a 5.2% increase in revenue for the same period.

PARIS: Havas reported like-for-like global revenues grew 1.5% in the first quarter of 2010, with the company's North American operation reporting a 5.2% increase in revenue for the same period.

The results mark the first quarter that the holding company has shown organic growth in global revenue since the fourth quarter of 2008, when it reported a 2% increase in overall revenues. 

Havas is the parent company for Euro RSCG Worldwide PR and Abernathy MacGregor.

Global revenue was about $443 million* for the first quarter of 2010, compared to $438 million in the first quarter of 2009 when global revenue dropped 8.4%. Havas reported that North American revenue grew to about $154 million in Q1 of 2010.

A Havas statement cited growth in all sectors in the US, including corporate communications, advertising, and healthcare in the Euro RSCG network.

The company's operations in Latin America and Asia Pacific also reported growth although revenues for Europe fell 3% in the first quarter of the year.

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

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