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Havas profits soar 45%

Published on .

Havas Advertising, Paris, said net profits jumped 45% in the first half, vs. a year ago, to $39.4 million, as gross income rose 38.8% to $646 million. Billings also were up 38.8%, topping $4.29 billion. Havas reported the results as it wraps up the $2.2 billion acquisition of Snyder Communications, Bethesda, Md. That deal didn't figure in first-half results, but Havas expects the fusion with Snyder to result in cost-saving synergies of $35 million to $50 million, while gross income is expected to rise 27% to 32% over the 1999 figure.

Copyright September 2000, Crain Communications Inc.

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