What the papers say: WPP tempered by 'Benattigate'

WPP’s Martin Sorrell went to market last Friday with a forecast-busting set of financial results. ‘Ad giant WPP sees profits surge’ (bbc.co.uk, 24 February).

The 36 per cent rise in profits beat City expectations and led to an increase in share value of eight per cent: 'WPP leads Footsie gains' (ShareCast.com, 24 February).

'But not everything is smelling of roses in WPP's garden,' asserted The Observer (26 February). The feud between WPP and former top Italian executive Marco Benatti took a new turn. 'Benatti chose Friday to announce he was suing Sorrell for "spreading unfounded accusations, detrimental to his image"' (Sunday Times, 26 February).

Sorrell was unshaken by 'Benattigate' (Sunday Times, 26 February) and was determined in his strategy. 'Do you sweep it under the carpet and settle with the parties involved, or do you make a clear statement? We believe in being open and transparent' (Scotsman, 24 February).

So far, it seems to be working, although there were rumblings about Sorrell's management style and a warning from Morgan Stanley that the dispute could 'act as an irritant to the share price' (Daily Telegraph, 27 Feb).

Analysis conducted by Echo Research from data supplied to PRWeek from NewsNow.

www.echoresearch.com www.newsnow.co.uk

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