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Advertising agency Havas grows across all regions in Q3

Reuters - UK Focus

PARIS, Nov 6 (Reuters) - French advertising agency Havas (Other OTC: HAVSF - news) kept up strong momentum in the third quarter, posting organic sales growth of 6 percent with gains coming across all regions.

Third-quarter revenue stood at 447 million euro ($554.73 million) with Europe up 9.4 percent, North America 5 percent and Asia 9.5 percent.

Larger rival Publicis (Paris: FR0000130577 - news) managed only 1 percent organic growth in the same period, but leader WPP (LSE: WPP.L - news) posted 7.6 percent organic growth.

Havas, which ranks as the world's sixth-biggest advertising group worldwide by revenue, is controlled by Bollore Group via a 36.2 percent stake.

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In mid-October, Bollore Group made an offer to acquire control over at least 50 percent of Havas by giving shareholders the chance to swap five Havas shares for nine Bollore (Other OTC: BOIVF - news) shares.

The operation will be voted on at a Bollore shareholder meeting on November 27.

(1 US dollar = 0.8058 euro) (Reporting by Leila Abboud and Gwenaelle Barzic; editing by Mark John)