Havas earnings up

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PARIS--The Havas Advertising group, the holding company for Euro RSCG Worldwide and other communications agencies, has announced 1998 billings of $6.56 billion and estimated gross income of $983 million, representing an increase of 12.2% on unadjusted figures compared to 1997 and an increase of 11% at constant exchange rates.

The 11% increase encompasses an 11% increase for the U.S., a 9.8% increase for Europe and a decrease of 5.6% for Asia. Latin America increased 76.2%. The U.S. remains the group's biggest market, accounting for 31.5% of total billings.

The consolidated net profit after extraordinary items and before amortization of goodwill, is approximately $69 million, an increase of 50% compared to 1997.

Copyright February 1999, Crain Communications Inc.

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