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Havas reports 2.5% first quarter revenue growth, boosted by US

April 14 - French advertising firm Havas HAVAS.AS on Tuesday reported a 2.5% rise in net revenues to 638 million euros ($753 million) in the first quarter of the year, driven by a strong performance in the United States.

The group confirmed its full-year guidance of 2% to 3% net revenue growth, and reaffirmed its target of making five to ten acquisitions over the year.

Net revenue in North America reached 230 million euros in the first quarter, up 7.4% organically, driven by several client wins offsetting weakness in healthcare advertising

Havas posted 1.1% organic growth net revenue in Europe to 320 million euros

Net revenue decreased 6.2% in APAC and Africa to 50 million euros, as the company lost clients in China and Singapore

The company flagged that its modest exposure to the Middle East was not materially impacted by the ongoing war

($1 = 0.8475 euros)

 (Reporting by Leo Marchandon in Gdansk; Editing by Matt Scuffham)

 ((leo.marchandon@thomsonreuters.com))

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