Havas Posts 5.3% Organic Revenue Growth In Third Quarter

French advertising group Havas SA (HAV.FR) Monday reported organic revenue growth of 5.3% in the third quarter, up from 2% in the second quarter, in another sign that advertising markets continue to improve despite fears about economic growth next year.

Havas, based in the Parisian suburb of Suresnes, said revenue in the three months ended Sept. 30 rose to EUR368 million from EUR326 million in the same period last year, beating analysts' expectations of EUR352.4 million. Organic revenue growth, a key metric in the advertising industry that strips out currency fluctuations, acquisitions and disposals, was forecast at 4.1%.

Net new business in the first nine months of the year totaled EUR1.6 billion, up from EUR1.1 billion in the same period a year ago, Havas said.

The group didn't provide any outlook for the rest of the year.

The owner of the Euro RSCG advertising agency is the first of the world's major advertising holding companies to report third-quarter revenue. Omnicom Group Inc. (OMC) reports Tuesday, followed by Publicis Groupe SA (PUB.FR) Thursday and WPP PLC (WPP.LN) at the end of the month.

Havas is majority-owned by French industrialist Vincent Bollore, who also owns a nearly 30% stake in U.K. advertising and marketing company Aegis Group PLC (AGS.LN).

Havas shares closed Monday at EUR3.69.

-By Ruth Bender, Dow Jones Newswires; +33 1 40 17 17 54; ruth.bender@dowjones.com

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