Havas' Q4 global revenues up 2%

PARIS: Havas, parent company to Euro RSCG Worldwide and Abernathy MacGregor, reported today that overall revenues increased 2% in the fourth quarter, despite a 2% decline in North America revenues.

PARIS: Havas, parent company to Euro RSCG Worldwide and Abernathy MacGregor, reported today that overall revenues increased 2% in the fourth quarter, despite a 2% decline in North America revenues.

Total revenues for the fourth quarter, which ended December 31, 2008, were about $567 million compared to $546 million a year ago. North America contributed revenues of $165 million in Q4.

For the year, Havas' revenues totaled about $1.97 billion, a 2.3% increase over 2007 when revenues were $1.93 billion. Net income for the year increased 25% from $104 million in 2007 to $131 million in 2008. The company also gained about $2 billion in net new business.

North America's 2008 revenues were $601 million for the year, about a 2% increase from last year.

"Despite a much weakened economic environment, our ability to adapt, our creativity, our media expertise, growth in our digital business, and the balanced geographic spread of our revenues enabled us to achieve these results for full year 2008," said Fernando Rodés Vilà, CEO of the Havas Group, in a statement. He also said an operating plan introduced in 2006 helped the company achieve more favorable results in 2008.

Havas recently restructured around two main business units: Havas Media and Havas Worldwide, which houses all advertising, marketing, and PR agencies.

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