WPP PR revenues down for first three quarters of 2003

WPP’s PR revenue continued to decline in the first nine months of this year, according to the firm’s quarterly trading update published this week.

PR and public affairs revenue at WPP declined by 6. 3 per cent, compared with the equivalent period in 2002. The company, which owns Finsbury and Buchanan Communications, said ‘PR and public affairs remained most affected by the recession, although the third quarter wasn’t as bad’.

PR accounted for nearly 11 per cent of WPP’s revenues over the nine-month period, with nearly 47 per cent of the company’s revenues coming from advertising. PR made up almost 12 per cent of WPP revenues in 2002.

WPP chief executive Sir Martin Sorrell confirmed this week that the company planned to link up with the Youth League of China in an attempt to reach consumers in the country’s remoter regions.

Earlier this year Sir Martin pledged to cut all business ties with Burma after Burma Campaign UK included WPP in its ‘dirty list’ of firms working in the country (PRWeek, 22 August).

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