'Go East Young AdMan' Urges Sorrell, As WPP Posts Upbeat Numbers

31 October 2008

LONDON: In a personal blog for Guardian.co.uk, Adland's senior Knight preached that the serried ranks of adland should follow the star of salvation shimmering on Asia and Latin America, and seek their fortune in the BRIC nations (Brazil, Russia, India, China).

Sir Martin Sorrell (for it is He), also pointed the fickle finger of fortune toward the "Next 11" … the future economic tigers of Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey and Vietnam. [Make an acronym out of that if you can!]

But warns Sorrell, "the world is not decoupled" and the woes of the West could also afflict these growing economies. 

Continues his blog: "The point is, even if the BRICs and Next 11 are coupled and are affected by the terrible events of the past year or so and, in particular, the past four or five weeks, these faster growing markets will remain faster growing.

"Even if China and India "collapse" to 5% or 6%, or 7% or 8% growth, they will still be growing stronger and faster than we are."

  • Meantime, at less rarefied altitudes within WPP Group, attention is focused on the 'here and now'. Specifically the third quarter of 2008 in which the world's second largest marketing services conglomerate is doing nicely, thank you.

    Gross revenues rose 16.2% to £1.72 billion ($2.80bn; €2.18bn) compared with £1.48bn in the year-ago period, surging past a consensus forecast of £1.65bn.

    Of this income, £885 million was net new business billed in the quarter, while net debt as at September 2008 was £2.17bn, against £2.09bn year-on-year.

  • Data sourced from Guardian.co.uk and Wall Street Journal Online; additional content by WARC staff