WPP reports profit drop

WPP, the advertising and communications group, reported today that its profits fell 5.8 per cent in 2008.

Sir Martin Sorrell: WPP founder
Sir Martin Sorrell: WPP founder

The group, which owns Ogilvy & Mather and Hill & Knowlton, also revised its forecasts downwards for 2009. The initial budgets for 2009 indicated like-for-like revenue growth, but group now predicts revenues will fall a further 2 per cent.

However, the group, founded by Sir Martin Sorrell, reported that PR and public affairs continued its strong growth with revenues up 6.9 per cent on a constant currency basis and like-for-like growth of 4.9 per cent.

Hill & Knowlton, Burson-Marsteller, Ogilvy Public Relations Worldwide and Clarion were amongst its agencies faring best in the UK. Globally reported margins for PR and public affairs remained flat at 16.6 per cent.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in