WPP Group revenues jumped by 24.5% in the nine months to 30 September as the company continued to benefit from the acquisition of Taylor Nelson Sofres last year. But among all WPP’s business categories, its research activities (which it now calls “consumer insight”) still showed the biggest decline in revenues on a like-for-like basis when compared with the same period last year, albeit the rate of decline has slowed.
Favourable currency movements made the biggest contribution to the 24.5% revenue growth. They contributed 16.5%.
Taking the business as a whole, like-for-like revenues for the nine months (ignoring acquisitions and currency movements) have fallen by 8.4% compared with the same period last year, and fell by 8.7% in the latest quarter. This bigger decline in the latest quarter is consistent with the trend already identified at Interpublic and Publicis (see Currency movements and digital business minimises Publicis revenue fall) and does not bode well for a swift economic recovery.
© Fintellect Ltd
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BOB WILLOTT
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