WPP Group's 3Q results best in decade
30 Oct 2010
Global communications services company, WPP on Friday reported its strongest quarterly growth rate since 2000.
WPP, which owns agencies including Ogilvy & Mather and JWT, said that like-for-like revenues for the Group rose 7.5 per cent in the third quarter and the underlying revenues increased to £2.25 billion following a 12.2 per cent rise in the three months to the end of September.
The Group reported a 9.3-per cent growth compared to the same quarter last year in the US market, saying it has been the first to recover after the economic slump, and behaved more like an emerging market than a mature one.
''America and traditional media continue to bite back,'' said the company in a statement.
Advertising and media investment management revenues grew by 9.6 per cent, with advertising over 6 per cent and media investment management almost 15 per cent.
UK reported a third quarter growth with revenues up 7.4 per cent compared with 5.1 per cent in quarter two and just 0.2 per cent in quarter one.
