Havas net profits down 38% despite revenue growth

Havas saw net profits plummet by 38% to E21m (£14.2m) despite revenues being up by 2.8% for the first half of the year ending 30 June 2006.

The group, which owns creative agencies Euro RSCG Worldwide and Arnold Worldwide Partners along with global media network Media Planning Group, recorded an 80% increase in new business wins of E900m (£609.8m) for the first half of 2006, compared to E500m (£338.8m) in the first half of 2005.
The wins included the media business of partwork publisher De Agostini in the UK and computer games company Eidos, which makes the Tomb Raider games, in the UK, France and Germany.
"The Group continues firms in its strategy of investing in creativity and quality by bringing in new talents to serve its clients," said Fernando Rodés Vilà, chief executive of Havas.
Meanwhile, Vincent Bolloré, the chairman of Havas, has called for an extraordinary general meeting at Aegis in an attempt to force two of his nominees on to the board.  Bolloré has a 29% stake in Aegis.

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