WPP's UK performance shows 5% rise

by Tristan O'Carroll, Media Week 24-Jun-08, 15:05

LONDON - WPP Group, the world's second biggest advertising company, has revealed that its UK revenues rose by 5% in the first five months of 2008.

At its AGM in London, the company announced that like-for-like global revenue growth - the key industry measure that strips out the impact of acquisitions and currency fluctuations - was up 4.5%.

Geographically, on a constant currency basis, all regions, showed strong revenue growth. In the US, revenues were up almost 7%, while in Europe, the UK was up by 5% and continental Europe up 5%. Central and Eastern Europe was up almost 21% and Asia Pacific, Latin America, Africa and the Middle East were up almost 18%.

Again, on a constant currency basis, WPP's global advertising and media investment management revenues were up 4.4% year on year during the first five months of the year.

The company, led by WPP Group chief executive Sir Martin Sorrell (pictured), conceded that "commentators are just about unanimous in their belief that the world economy is in for a bumpy ride".

But it said that as an operation with international scale spanning several disciplines, it is confident for the future.