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Ad agency Havas posts 3 pct organic growth in Q1
May 6, 2014 / 4:11 PM / 4 years ago

Ad agency Havas posts 3 pct organic growth in Q1

PARIS, May 6 (Reuters) - Advertising agency Havas posted a 3 percent rise in first-quarter organic revenue, helped by a rebound in the United States where it returned to growth with client wins such as satellite TV company Dish and insurer Liberty Mutual.

Revenue stood at 389 million euros ($539.87 million) as Europe, North America and Asia all contributed.

Analysts had been expecting organic growth of 2.3 percent to 2.5 percent for the quarter.

Chief Executive Yannick Bollore, whose father tycoon Vincent Bollore owns 36.7 percent of the company, said in a statement that Havas “was in a positive dynamic” that made it confident for the months ahead.

Net new business signed in the quarter reached 669 million euros versus 402 million euros in the same period last year.

$1 = 0.7205 Euros Reporting by Leila Abboud, editing by Astrid Wendlandt

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