Havas continues growth run but warns of end-of-year slowdown

Havas, the global advertising network home to Media Planning Group, has reported growth of almost 4% year-on-year in the third quarter of 2005.

Havas continues growth run but warns of end-of-year slowdown

The Paris-based network said the growth figure showed a slight increase on the 3% year-on-year achieved in the second quarter of 2005, despite suffering from the loss of its high profile Intel account in Asia and flat performance in the UK.

So far in 2005 Havas has seen year-on-year growth of 2.8%, but it warned of a slowdown in the last quarter on the year after what it claimed was a strong performance in late-2004 and the effects of losing a number of key accounts.

Havas is expected to unveil what it has called "strategic orientations" before Christmas in a bid to recover ground lost to its global advertising network rivals in the past two years.

The plan to overhaul the business will be the first steps taken by new majority shareholder Vincent Bolloré, who ousted former chief executive Alain de Pouzilhac earlier this year.

A statement from the company said: "The Havas group needs to continue to build its recovery in 2006.

"The executive committee confirms that it will unveil its strategic orientations to the financial community and press before the end of 2005.

"The aim of these strategic orientations will be to provide the group with the means to accomplish the next stages in its development beginning in 2006."

In a private capacity Bolloré's group of companies have recently amassed a 25% stake in rival network Aegis, owner of the Carat and Vizeum media buying agencies.

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