Comms revenue at WPP grows by 19%

WPP, the marcoms group that owns Finsbury and Ogilvy Public Relations, has posted a rise in PR revenue of more than 19 per cent.

The group said its PR and PA division made £134.1m in the three months to 30 September, up from £112.5m in the same period in 2004.

When the effects of fluctuating exchange rates are taken into account – known as 'constant currency' – revenue growth was 16.5 per cent.

PR and PA had the third biggest rise in constant currency revenue in the group, after advertising and media investment management (30.8 per cent constant currency) and branding and identity, healthcare and specialist communications (26.6 per cent constant currency).

Group-wide revenue rose 26 per cent in the third quarter to £1.3bn, up from £1.1bn last year – a rise of nearly 23 per cent after allowing for exchange rates.

Finance director Paul Richardson said growth had been primarily fuelled by strong group performance in Asia and the US, with more modest single digit growth in the UK and Europe.

The recent strength of the dollar and euro is believed to have caused the distortion between reported and constant currency revenues.

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