PARIS—Communications holding company Havas—parent to the Euro RSCG public relations firms as well as to financial communications specialists Abernathy MacGregor and Maitland—has reported first-half organic revenue growth of 4.4 percent, ending the second quarter with revenues of around $1 billion, a 1.3 percent increase compared to the same period last year, and signaling what management hopes is that start of a recovery driven by strong new business performance.
After a flat first quarter, the French company reported a second quarter increase of 5.4 percent—the first time in six years quarterly growth has exceeded 5 percent..
Havas outperformed French rival Publicis Groupe—parent to public relations firms Manning Selvage & Lee and Publicis Consultants—which suffered from account losses and poor performance in the healthcare sector and saw revenue for the first half of 2007 of about $3.1 billion, an increase of 1.5 percent in organic terms. Net income for the first half was basically flat at $270 million compared to the first six months of 2006.
Neither group reports separately on the performance of its public relations holdings.