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Havas APAC posts 8% growth as global business flattens out

Havas Asia-Pacific has maintained the upward momentum it achieved in Q2 by posting solid growth in its latest results.

The French holding company reported 8.4 per cent organic revenue growth in its third quarter results for 2017. The company had posted negative figures in Q1, followed by a “bounce back” of 3.2 per cent in the last quarter.

According to the report on NASDAQ, growth in APAC and Africa was said to be largely boosted by increased spending by recently won creative clients such as Glaxosmithkline, Swarovski and LG.

Markets such Australia, China and Hong Kong were cited as the main growth drivers, while South Korea and India, which were noted as successful markets in Q2, were not mentioned. Overall, the region has increased its organic revenue by 2.3 per cent in the first nine months of this year.

The company recently reorganised its Chinese executive team to give all its leaders additional roles within a newly unified company. In South East Asia, the group also upped its game with the acquisition of Malaysian agency Immerse.

Meanwhile, on a global level, the holding company only experienced 0.3 per cent growth, with Europe’s growth falling by 4.7 per cent. The group cited decreased spending by major clients including Unilever or Pernod Ricard hitting the UK’s media business particularly hard.

Commenting on the results Havas CEO Yannick Bolloré said: “Despite an ever more challenging sector environment, we remain positive over the mid-term because we believe firmly in the positive effects of our strategy and in our client-centric organisation.”

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