WPP preliminary results show 7.4 per cent drop in like-for-like PR revenues

WPP has reported a drop in like-for-like PR revenues of 7.4 per cent during 2009.

CEO, WPP Group: Sir Martin Sorrell
CEO, WPP Group: Sir Martin Sorrell

However, the holding company’s 2009 preliminary results have revealed that the group’s PR and public affairs business saw improved business in the second half, with like-for-like revenues down 6.7 per cent compared with a drop of 8.2 per cent in the first half.

Improvements were seen particularly in the United States and the United Kingdom.

The final quarter showed more improvement still, with PR revenue down less than five per cent, which was the least worst quarterly decline of the year.

‘We have clearly moved from a period of staring into the abyss to less worse and now to stabilisation, if not growth, as yet,’ the company stated.

PR and PA revenue was 9.2 per cent of the total group’s revenue. PR and PA operating margins remained strong, as action was taken to reduce costs as average headcount fell significantly during the year.

The Sir Martin Sorrell-led group stated that market conditions in the sector improved in the final quarter, particularly Burson-Marsteller, Hill & Knowlton and the group’s specialist public relations businesses.

By comparison, advertising and media investment management like-for-like revenues were down by 8.5 per cent.

As a group, WPP saw billings go up by 2.7 per cent to £37.9bn. Like-for-like revenue was down by 8.1 per cent overall.

The UK has seen like-for-like revenues drop by six per cent, compared to a drop of 8.1 per cent in the US and 10.2 per cent in Western Continental Europe.

 

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Latest Articles

John Lewis to tell brand story with "tasteful" 150th anniversary celebrations

John Lewis to tell brand story with "tasteful" 150th anniversary celebrations

Department store John Lewis is to use its 150th anniversary this year to talk about its history, which "not enough people know about", according to director of communications Peter Cross.

Labour hires Obama election strategist David Axelrod to fight General Election

Labour hires Obama election strategist David Axelrod to fight General Election

The man who helped Barack Obama win the 2008 and 2012 US presidential elections is to work for Labour along with members of his team.

Sky adds Fever PR to its roster after splitting with Cake

Sky adds Fever PR to its roster after splitting with Cake

Pay-TV giant Sky has added Fever PR to its agency line-up for a wide-ranging brief covering products and services.

Max Clifford trial jury to continue deliberations after Easter break

Max Clifford trial jury to continue deliberations after Easter break

The jury in the trial of celebrity publicist Max Clifford has been sent home for Easter and will reconvene on Tuesday for further deliberations about its verdicts on 11 charges of indecent assault.

Home Office brings in Munro & Forster to campaign against FGM

Home Office brings in Munro & Forster to campaign against FGM

The Home Office has tasked Munro & Forster (M&F) with supporting its campaign to eradicate female genital mutilation (FGM) as part of a wider retained brief.