Earnings: Havas Digital Ads Edging Up Despite Falling Profit
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French advertising group Havas saw both its profits and revenue slide in the first half of 2009—but the company continues to grow its digital operations despite the downturn.
Across the group, Havas’ profits fell 18.7 percent year on year to €40 million (£35.2 million) on 7.4 percent lower revenue of €700 million—but digital revenue increased five percent and now accounts for 16.4 percent of the group’s total.
As we saw with WPP’s H1 earnings, advertisers are moving to digital to counteract the effects of the recession with digital growth and investing in a more digital future across the globe. Release.
The group reports positive growth in France in Q2, although the rest of Europe including the UK, is still growing very slowly. Like most advertisers, Havas is keen to invest further into Latin America and Asia: it experienced “strong performances” in Mexico, Argentina, Peru and Brazil.
Havas won new business worth €813 million (£716 million) in the half, ahead of its H108 average, including brands such as Blizzard in France, the UK’s Admiral Group and Jacob’s Creek internationally.
@psmith
Sep 1, 2009 9:31 AM ET
Posted In: Advertising, Money, Earnings, Countries, Europe, France
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