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Sales growth slows for French advertising agency Havas
August 31, 2012 / 4:11 PM / 5 years ago

Sales growth slows for French advertising agency Havas

PARIS, Aug 31 (Reuters) - French advertising agency Havas reported a slowdown in sales growth in the first half of the year, hit in part by economic weakness in Europe, where it earns about half of its revenue.

Havas, which competes with larger rivals Publicis and WPP, posted first-half sales of 829 million euros and organic growth of 2.7 percent, compared with 3.5 percent in the first quarter.

Operating profit was 93 million euros, giving it a margin of 11.2 percent.

Analysts had expected sales of 819 million euros and an operating profit of 100 million, according to a Reuters poll of six analysts. (Reporting By Christian Plumb and Gwenaelle Barzic; Editing by Greg Mahlich)

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