Havas FY net down 22 pct on lower opg profit, higher tax charge |
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Thu, 05 Apr 2007 17:25
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PARIS (AFX) - Advertising group Havas reported a 2006 net profit of 46 mln eur, down 22 pct on the 59 mln eur posted in 2005, reflecting a fall in operating profit and a higher tax charge.The net profit was below the 61 mln eur consensus compiled by Thomson Firstcall, although individual estimates ranged widely from 44 to 87 mln.Havas stressed the impact of an increased tax expense -- 25 mln eur vs 14 mln a year earlier --, adding that pre-tax profit was 'virtually stable' at 83 mln eur.Operating profit was 121 mln eur, a 5 pct decline on the 2005 figure of 128 mln.The company had previously reported a 0.8 pct rise in full-year revenue to 1.472 bln eur, its first rise since 2001, together with net new business of 1.931 bln eur.Havas reiterated that it was ranked number one for new business for 2006 in a widely known industry survey carried out by analysts at Lehman Brothers.paris@afxnews.comgt/twCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Bollore to raise stake in Havas to 31 pct by end-June through call option 