Havas posts gloomy H1 results with 13.2 per cent drop in operations income

Havas has posted gloomy first half results with a 13.2 per cent drop in income from operations to €71m (£62m).

Chairman: Vincent Bolloré
Chairman: Vincent Bolloré

The agency conglomerate that includes Cake and Euro RSCG Biss Lancaster in the UK, has announced its first half-year (H1) revenue for 2009 is down 7.4 per cent year on year to €700m (£615m).
Organic revenue growth for the same period dropped 9.2 per cent. This was worse in Asia Pacific, which saw a 21.8 per cent fall caused by the loss of a key account with Dell. North America saw a 10.5 per cent drop in organic revenue and the UK an 8.9 per cent fall.

The glimmer of hope came from the group's digital businesses, which reported five per cent organic growth and now accounts for 16.4 per cent of the Group's total revenue.

The results included Havas Media and Havas Worldwide. Vincent Bolloré is the chairman of the board of directors.

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