NEW YORK: WPP Group has reported a worldwide revenue increase of 1.8% for the first five months of the year as its PR and public affairs units grew 2%. In addition, the global network's healthcare and specialist communications sector increased by just over 2%.
In the US, there was growth of 7% and 5% in April and May respectively. In a trading update released today (29 June), the marketing communications services network said it expected the upward trend to continue for the duration of the year.
In constant currencies, revenues were up 2.2%, reflecting the comparative weakness of the US dollar and Euro against the pound sterling.
In a statement, WPP was cautiously optimistic and said: “There are fears for US growth later this year, as comparatives get more difficult and next year as the Bush tax cuts end, together with the postponement of any withdrawal of the US fiscal stimulus and its impact on the deficit as taxes rise on corporate profits.”