Martin Sorrell’s WPP group has seen revenues leap by 10 per cent
for the first quarter of the year on the back of pounds 447 million
worth of new-business wins.
But figures published by the group this week reflect tough trading
conditions in Latin America where revenues - along with those of Asia
Pacific, Africa and the Middle East - have dropped by 2 per cent.
The J. Walter Thompson and Ogilvy & Mather parent company paints a
healthier picture of its fortunes in the UK, where revenues rose almost
12 per cent, continental Europe, which recorded a rise of more than 10
per cent, and North America where a 14 per cent growth is reported.
At the same time, new-business billings were up by pounds 44 million on
the comparable period last year. As a result, the group says it expects
to achieve its aim of raising operating margins from 12.8 per cent to
13.4 per cent.
However, advertising revenues rose by less than than those from other
activities, climbing 5 per cent as opposed to an 18 per cent increase in
revenues from information and consultancy.
Meanwhile, Interpublic, whose empire includes McCann-Erickson, Ammirati
Puris Lintas, the Lowe Group and Western Initiative Media Worldwide, has
reported a dollars 44.8 million growth in first quarter income, an 18.7
per cent increase.