Havas predicts strong rebound in 2002

PARIS - Havas Advertising chairman and CEO Alain de Pouzilhac has told the French media that he expects the advertising industry to pick up this year, predicting organic growth of 2% for Havas in 2002.

In an interview with La Tribune, the French business newspaper, de Pouzilhac said that the current trend gives him more optimism for 2002.

However, as recently as two months ago he was convinced it would not happen until 2003.

De Pouzilhac said: "We expect a strong earnings recovery in 2002."

The Frenchman also said that he was not worried about Havas being marginalised by the acquisition of B|Com3 by Publicis Groupe.

He said that for Publicis the acquisition could lead to conflicts. He said that Havas' goal "is to stay focused on our clients".

Shares in Havas were trading down by 1.46% this afternoon at €10.10, down €0.15 on yesterday's close.

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