Olympics Spur WPP to New Heights

25 August 2008

LONDON: This year's Beijing Olympic Games and the US presidential election have helped fill the coffers of UK-headquartered advertising conglomerate WPP Group. It warns, however, that prospects for 2009 are less rosy.

The group's first-half profits were up 15.1% year-on-year to £338.5 million ($629m: €423.8m), boosted by growth in Eastern Europe and the Asia-Pacific region.

But according to a company statement: "The prospects for 2009 remain less certain, particularly if the US and Western European economies continue to be impacted by the financial crisis."

WPP said 2010 was looking better, again bolstered by major sporting events including the soccer World Cup, the Winter Olympics in Vancouver and the Asian Games in Guangzhou, China.

Data sourced from BBC Online; additional content by WARC staff