The World: Paris - Havas' new streamlined structure boosts net income

Havas has reported a 25 per cent year-on-year rise in net income to EUR104 million during 2008, with net debt reduced to around EUR79 million.

The group, whose operations include Euro RSCG, Arnold Worldwide and Havas Media, cited its new streamlined structure and tight cost control as the reason for its improvements.

It is the first time in Havas' history that it has posted a net income of more than EUR100 million.

The group also reported that organic growth grew by 4.7 per cent last year, while its operating margin remained at 12.1 per cent.

Havas also announced a restructuring which will unite its Euro RSCG and Arnold operations under a new entity headed by the Euro RSCG chief executive David Jones.