NEW YORK & LONDON: WPP has released its 2005 first-quarter data, showing double-digit increases in PR and overall revenues.
WPP reported an overall16% revenue increase in constant currencies, which excludes the effects of currency movements like inflation and exchange rates. Global revenues jumped from $1,834.6 billion in the first quarter of 2004 to $2.129.4 billion in the same period in 2005.
North American revenue grew 16% in constant currency from $744.9 in first quarter 2004 to $847.2 during the same period in 2005. PR and public affairs grew 12.4% in constant currency from $200.9 million in first quarter 2004 to $223.5 in 2005.
This was the first quarterly figure that included Grey Global Group, which the holding company first announced acquiring in September 2004. The acquisition was finalized in March 2005.
The company also announced net new global billings of $1.62 billion during the first quarter. In its release, WPP stated a commitment to improving operating profits by 10% to 15% per year.
WPP's PR agencies include Burson-Marsteller, Hill & Knowlton, Ogilvy, Cohn & Wolfe, and GCI Group.