Y&R purchase pays off as WPP revenues jump 26.3%
Third-quarter revenues at advertising and marketing services group WPP shot up on the strength of the Olympics and its purchase of Young & Rubicam.
LONDON (Brand Republic) – Third-quarter revenues at advertising and marketing services group WPP shot up on the strength of the Olympics and its purchase of Young & Rubicam.
The group said it had taken net billings of £830m in the three months to the end of September, compared with last year’s figure of £730m, as clients such as Ford and Nike boosted their spends.
Overall revenues grew 26.3% to £679.4m, boosted largely by figures from New York-based agency Young & Rubicam. UK revenues were up 11% to £122.6m.
Chief executive Sir Martin Sorrell said the acquisition of Y&R, and with it clients such as Ford, had made WPP the largest ad group in the world by gross revenue.
“We expect to benefit from continued growth in the industry,” he said.
Public relations recorded the highest revenue growth, up 45%, while information and consultancy revenues rose by 30%.
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