Havas board calls for improvement

The directors of Euro RSCG brand owner Havas have admitted that results need to be 'significantly improved' after operating income for the first half of 2005 fell by five per cent.

The Havas board said in its interim results statement this week that 'the group's recovery must be amplified' through 'a combination of revenue growth, translating into increased market share, with a rise in profitability'.

Group operating income fell from just over £53m to £50m partly because of the cost of a severance package for the company's former chief executive Alain de Pouzilhac.

But Havas's net profit rose by 57 per cent from £14m to £22m because of cost savings and a fall in the effective tax rate.

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