Strong third quarter results from WPP were bolstered by an almost 11% jump in PR and public affairs business. Nevertheless, the company's stock price fell on Monday due to missed advertising forecasts and following a warning from CEO, Sir Martin Sorrell, that, after what promises to be a great year in '08 (the Olympics and the presidential election), the business climate in 2009 could turn cold based on the new US administration.
I spoke with Howard Paster, EVP for PR and public affairs at WPP, the other day about his perspective from the PR side of things.
"It’s a pattern that’s now well in its second year," said Paster. "We’ve been among the fast growing parts of WPP. I think it reflects the health of the industry generally."
Paster says he thinks WPP will stay the course in its PR sector.
"I don’t think we’re going to be changing what we’re doing. As a matter of fact, [I think] we’re going to be doing more of the same. It seems to be working."
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