Havas: abandons annual growth target.
(CercleFinance.com) - There has been a big setback for Havas, with the group announcing on Friday that it had abandoned its organic revenue growth target for 2017.
The media group, which until now expected growth of between 2% and 3%, mentioned a sharper-than-expected fall in advertising expenditure. It also reported a lot of pressure on its margins and a slowdown in several markets where it has a big presence (Brazil, Mexico, etc.).
As a reminder, Havas reported a 0.4% drop in its H1 revenues to end-June in organic terms. Over Q2 alone, revenues were down 0.9% in organic terms.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The media group, which until now expected growth of between 2% and 3%, mentioned a sharper-than-expected fall in advertising expenditure. It also reported a lot of pressure on its margins and a slowdown in several markets where it has a big presence (Brazil, Mexico, etc.).
As a reminder, Havas reported a 0.4% drop in its H1 revenues to end-June in organic terms. Over Q2 alone, revenues were down 0.9% in organic terms.
Copyright (c) 2017 CercleFinance.com. All rights reserved.