The Week: City News - Havas suffers profits drop

Havas, the owner of Euro RSCG and MPG, announced that its third-quarter revenues dropped by 9.3 per cent year on year in the third quarter of 2009.

Overall, revenues for the Paris-based company were down from EUR362 million in the third quarter of 2008 to EUR326 million in the same quarter this year, with debt reduced from EUR263 million to EUR159 million. In the UK, the revenue fall was 13.7 per cent, from EUR51 million last year to EUR41 million, partly due to the strength of the Euro against the pound.