LONDON: WPP Group said that like-for-like revenue for the PR and public affairs unit increased 5% in the third quarter of 2010, while the holding company reported overall like-for-like growth of 7.5% during the same quarter.
WPP said that the third quarter was the company's highest quarterly like-for-like growth since 2000. Group like-for-like revenue for the third quarter of 2010 was reported as $3.6 billion*.
Like-for-like revenues exclude the impact of acquisitions and currency fluctuations.
WPP reported that like-for-like revenues for the PR and public affair's unit as $332.7 million. PR and public affairs, which makes up 9% of group revenues, posted a 3% increase in like-for-like revenues to $1 billion for the first nine months of 2010.
Group PR agencies include Hill & Knowlton, Cohn & Wolfe, Ogilvy PR Worldwide, and Burson-Marsteller, as well as public affairs firms like Quinn Gillespie & Associates and Public Strategies.WPP cited Burson Marsteller and Public Strategies for leading the unit's growth in the US, noting in particular that Burson showed “excellent growth.”
Advertising and media saw a 9% increase in like-for-like revenues in the third quarter of 2010, while the branding and healthcare unit also reported a 7.1% growth in like-for-like revenues for the same quarter.
WPP also reported that the group's like-for-revenue for the first nine months of the year went up 4.1% to $10.7 billion.
*All figures were converted from the British pound to the US dollar using the XE currency converter.