Havas posts 7.3% revenue growth for third quarter
LONDON - Havas' third quarter revenues have climbed 7.3% year on year to €368m (£258m), with its French business rising 13.4% for the same period to €76m, and a strong performance across Europe.
In the UK, the group managed a 4.5% increase in third quarter revenues to €46m. In Europe, excluding France and the UK, revenues were up 11.4% to €78m.
Havas, which is chaired by Vincent Bollore, said it had achieved a "satisfactory" performance for the first half of 2007, but had posted organic growth of 9.3% in its third quarter -- the highest quarterly organic growth figure the business has recorded since 2000.
Both the UK operation, which Havas said had been strengthened across its advertising and direct businesses, and the French arm, which it said had been driven by an "excellent performance" in the corporate communications and digital sectors, helped produce strong results for its European-wide business.
However, Havas' North American revenue growth for the third quarter dropped by 1.6% to €128m, which it said was partly because of the weakness of the dollar for the first nine months of 2007 having "adversely affected the group" year on year.
In a statement, Havas said its performance in the first nine months of 2007 confirmed that it had turned its business around, and that its third quarter results were in line with budget expectations.
Earlier this month, Havas acquired a minority stake in the Calhoub Group, which has business networks in Egypt, Syria, Jordan and Iran.
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