Havas sees slowdown in sales growth

Havas has reported a 1.5% rise in organic sales in the third quarter, compared to 9.3% for same period last year. Despite the slowed growth the marketing communications group is maintaining its target operating margin of between 11% and 12% for 2008.

The sales rise for the French group has compared poorly with the 3.9% achieved by rival Publicis Groupe.

Havas chairman Vincent Bollore says sales in the third quarter reached £304m but were hit by the loss of the Dell business in Asia and cutbacks in advertising spend in the US, particularly in the tourism, finance and health sectors.

The group, which owns Euro RSCG and media agency Media Planning Group (MPG), has forecast organic growth of 5-6% for 2008.

The group is set to launch the UK operation of Havas Media with MPG UK managing director Mark Craze to be installed as its chief executive. The move will bring together its agencies MPG, Havas Sports, Cake, Archibald Ingall Stretton and Arena BLM.

.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here