Havas UK business grows 8.6% in third quarter

Havas has reported third-quarter organic growth of 8.6% in the UK, where the company says it is continuing to invest despite economic uncertainty caused by Brexit.

Vita Coco: Havas Media won its European account this year
Vita Coco: Havas Media won its European account this year

Group chief executive Yannick Bolloré singled out Britain amid the company’s "strong" performance in Europe, where organic growth was 7.7% in Q3 2016. He added that Havas is continuing to strengthen and invest in the UK.

However, the owner of Havas Media Group and BETC did not report headline growth for the UK, where the pound’s value has plummeted since the vote to leave the European Union in June.

Meanwhile, growth slowed in North America because of a "high baseline", Havas said, as well as the one-off impact of DraftKings quitting the promotion of online contests for cash prizes. Havas said the fourth quarter would be better because of recent new business wins that are not yet being fully reflected in the company’s earnings. 

Globally, Havas reported 3.8% revenue growth to €537m (£481m), which is 2% organic growth over the three months to the end of September.

This year, Havas UK wins include Havas Media capturing Vita Coco’s pan-European media account and Top Shop’s UK account, while Arena Media has picked up Charles Wells’ media account in the UK.

Bolloré said: "In the third quarter, the group performed strongly in Europe in all its major markets, including the United Kingdom where, the macro-economic climate notwithstanding, we achieved organic growth of 8.6%.

"The UK remains a key market for Havas, and we are continuing to invest and strengthen our presence there. Our next Havas Village will open its doors in London in Q1 2017 and will bring together over 2,000 talents specialised in every area of communications expertise.

"London is also the home of our latest acquisition, Target MCG, the UK's largest independent entertainment and lifestyle media group."