WPP Lifts Q3 Revenues by Five per Cent

22 October 2007

LONDON: WPP Group posted revenues up by 4.9% to £1.48 billion ($3.03bn; €2.13bn) in the three months to September 30, despite the adverse effect of the sterling-dollar imbalance on sales growth.

On a constant currency basis (which compensates for fluctuations in foreign exchange rates) group revenues rose 8.1%.

As to the effects of the current global credit crunch, WPP claims no discernible impact - although such impact, if any, would take several months to filter through to marketing budgets.

"Any possible impact is unlikely to be reflected anyway, until the group's budgets for 2008 are finalised, at the beginning of next year," the company said.

And if ceo Sir Martin Sorrell is correct, any adverse impact in 2008 is likely to be negated by compensatory bull factors such as the US presidential election, the Beijing Olympics and the European soccer championships.

Data sourced from BBC Online (UK); additional content by WARC staff