London-headquartered WPP Group, the world’s largest marketing services conglomerate, recorded a 21% rise in revenues to £679.4 million during the quarter to 30 September.
Revenue growth leaders were WPP's public relations and public affairs units, in aggregate posting a rise of nearly 45%. Regionally, continental Europe led the globe with revenue increases exceeding 34%. The USA achieved overall growth of 19%, while the UK hit 11% plus.
The group is bullish about overall results for 2000, predicting it will be on-target to achieve operating margins of 14%.
During the year to date, the three WPP agency networks – J Walter Thompson, Ogilvy & Mather and Young & Rubicam – won new business from major advertisers such as Ford, Goldman Sachs, KPMG, Lufthansa, Mazda, Motorola, Sun Microsystems and Volvo.
News source: BBC Online Business News (UK)