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Wednesday, June 24, 2015

Havas eyes about 5 percent organic sales growth this year, (NYSE: GIS)

Advertising agency Havas 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, 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."We are challengers rather than incumbents, so this spate of reviews is more of an opportunity than a risk," Bollore said in an interview at the Cannes Lions advertising conference.

General Mills, Inc. is a global manufacturer and marketer of branded consumer foods sold through retail stores. Shares of GIS traded higher by 0.04% or $0.02/share to $56.58. In the past year, the shares have traded as low as $48.32 and as high as $57.73. On average, 2578500 shares of GIS exchange hands on a given day and today's volume is recorded at 810730.