Havas reports 8% growth in net income
Global advertising and services communications group Havas, parent company to Euro RSCG, has reported an 8% year-on-year growth in net income from half one.
Group revenue was up 5% year-on-year at €765 million.
Strategic wins for the Havas Media division include Arena Media UK winning the Eurostar account for the whole of Europe; with digital wins by Media Contacts USAfor Panasonic and The Economistalso mentioned.
Wins for the Havas Worldwide division by Euro RSCG included a worldwide contract for Durex and a contract in Mexico for PepsiCo.
David Jones, CEO Havas (pictured), said: “Havas had a good first half 2011: We delivered solid improvements in profitability, achieving an increase in margin of 90 basis points compared to the same period last year to reach one of the highest margins in the sector at 12.4%.
“Organic growth was particularly strong in LATAM, APAC and North America for the first six months. Our dedicated efforts to improve operational efficiencies have borne fruit and debt reduction has proceeded apace, with average net financial debt standing at just €22 million.
“Havas now has a strong balance sheet structure and is in a good position to capitalize on new growth opportunities but similarly is agile and entrepreneurial enough to respond to any changes driven by economic uncertainty.”