Havas boosts gross income 15.1%

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French advertising group Havas Advertising has reported gross income up 15.1% to $497 million for six-month period ended June 30, vs. the same period last year, on a 15.1% increase in billings to $3.3 billion. On a continuing operations basis, the group said the increase in gross income and billings was 13%. Account wins, including assignments from H.J. Heinz Co., Dell Computer Corp., Universal Studios and Virgin Net, and a boom in new media work helped boost group performance in the six-month period, Havas said. Havas recently announced the successful conversion of its convertible bonds and said that has freed up funds for acquisitions. Havas operates four main units: the Euro RSCG, Campus and Mediapolis networks, and a Diversified agencies unit.

Copyright October 1998, Crain Communications Inc.

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