The World: Paris - Tough market conditions take toll on Havas revenues

Havas has delivered a disappointing first-half performance because of cuts in client spending and the ongoing recession.

During the first six months of the year, its income fell 18.7 per cent to about $57 million, with a 7.4 per cent drop in revenue to just over $1 billion. Revenue was down in all regions including Europe (8.5 per cent), North America (10.5 per cent) and Asia-Pacific and Latin America (8.9 per cent).

The figures come amid speculation that Havas and Aegis, in which the Havas chairman, Vincent Bollore, is the largest single shareholder, could merge. Aegis said no talks were taking place between the two companies.


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