In a statement, Havas said that while the outlook remained uncertain, new-business wins provided encouraging signs for the future. Accounts totalling €565m have been won since the year began, including Reckitt Benckiser, Dunlop and Habitat.
For the first three months of 2002, advertising generated €183.1m, down by 8.1% on the same period last year, while Havas' media and marketing services generated €317.4m, down by 4%.
Geographically, the North American operation of Havas, which owns the Euro RSCG and Arnold Worldwide advertising networks, was the hardest hit, with revenue falling by 8.2% to €234.9m. The Latin America region saw revenue increase by 12.2% to €19.7m.
Alain de Pouzilhac, chairman and CEO of Havas Advertising, stated: "The first three months of 2002 are in line with our expectations, despite a tough environment. More than ever, our strategy remains focused on developing our existing customers both geographically and across the various communications sectors."
Shares in Havas, traded in Paris, had fallen by 0.6% or €0.04 this morning to trade at €7.29.
De Pouzilhac recently dampened speculation that Havas might make a major acquisition. The group has been linked to possible bids for media group Aegis, Cordiant Communications or Grey Global, the last of the three independent media groups.
"The only way we can grow our networks to where we want them is organic growth and acquisition. We are not in talks at the moment and are not looking for a big acquisition," he said.
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