Havas Profit Increases 81%
March 10, 2008
It appears that Havas is making bank, and plenty of it.
Full Story March 10 (Bloomberg) — Havas SA, the owner of the Euro RSCG Worldwide advertising agency, said 2007 profit rose 81 percent as it won accounts with BNP Paribas SA and Kraft Foods Inc.
Net income rose to 83 million euros ($127 million), or 19 cents a share, from 46 million euros, or 11 cents, a year earlier, Havas, based in the Paris suburb of Suresnes, said in a statement today. Analysts predicted profit of 82.3 million euros, the average of four estimates compiled by Bloomberg.
The company, whose largest investor is French billionaire Vincent Bollore, reported accelerating revenue growth in each quarter last year as it won 1.5 billion euros of new business. Chief Executive Officer Fernando Rodes Vila said in a presentation in Paris today that he’s “optimistic” about growth this year, while 2009 will be more “complicated.”
Full Story
Pretty Amazing story overall to see that level of growth when some other firms are down in the toilet.
The only reason 2008 is ‘secure’ and 2009 could be in the dumps is because many firms already have a set spend and a set budget… that will of course get re-evaluated for 2009.
Living on borrowed time of course.
Comments
Recognized by Advertising Age Magazine as top Power 150 news outlet for Advertising and Marketing.
Recognized and listed in Google News. Don't stress, we're Satire
Ad Agency Advertising
