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Havas reports 63% leap in billings

French advertising group Havas has reported a 63% rise in billings to €3.6bn (£2.2bn) in the first quarter of 2000, which is in line with its own short-term growth targets.

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The company, which is the world's fifth-largest advertising group, saw revenues rose 60% to €545.2m (£338.4m).

Alain de Pouzilhac, CEO at Havas, said that organic growth was largely due to improved results from its media planning and buying and marketing services units.

The company said that it expected significant growth during 2000 in Europe and in the Latin American markets. However, it said it was hard to predict how adspend would grow this year in the US as the market continues to slow.

Havas owns the Euro RSCG Worldwide advertising network and the Media Planning network. Last year, it bought US advertising group Snyder Communications, which owns the Arnold Communications agency.

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