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Havas eyes about 5 pct organic sales growth this year

Reuters - UK Focus

PARIS, June 24 (Reuters) - Advertising agency Havas (Other OTC: HAVSF - news) is aiming for organic revenue growth of about 5 percent this year, fueled by strong demand in the United States and Latin America, Chief Executive Yannick Bollore said on Wednesday.

The world's fifth-largest advertising holding company, which is majority owned by French tycoon Vincent Bollore's eponymous group, also believes it can pick up new business this year as an unprecedented $27 billion in media buying and planning contracts come up for review in the U.S.

The CEO said that Havas was in a good position since it only had to defend one contract, namely that of retailer Sears , which is expected to be decided by the autumn. It is also pitching for an $18 billion contract with food maker General Mills (NYSE: GIS - news) .

"We are challengers rather than incumbents, so this spate of reviews is more of an opportunity than a risk," Bollore (Other OTC: BOIVF - news) said in an interview at the Cannes Lions advertising conference. (Reporting by Leila Abboud; Editing by James Regan)