WPP Achieves Highest Growth Since 2000

Like-for-like third quarter revenue in WPP's Consumer Insight division climbed 6.4% to £581.9m, continuing the stronger growth rate seen in the second quarter. These figures contributed to what the marketing services giant describes as the 'highest results in a decade'.

Agencies in WPP's Consumer Insight division include Added Value, All Global, BMRB, Cymfony, Kantar, TNS-RI, Millward Brown, and Lightspeed Research.

For the first nine months of the year, the division saw revenue climb 5% to £1.74bn from £1.65bn in the same period in 2009.

Overall, the group - which is led by CEO Sir Martin Sorrell (pictured) - reported its highest quarterly like-for-like sales growth since 2000 - up 7.5%. Total revenues were 12.2% higher at £2.3bn, helped by the weak pound.

This growth has been driven by trading in the US, which the firm said behaved more like an emerging market following growth of nearly 10% in the most recent quarter.

WPP is forecasting like-for-like revenues in 2011 to be similar to this year, compared with a previous prediction of a 2% rise.

Coinciding with the release of these financial results, WPP has also announced a $5m (£3.1m) investment in Buddy Media, which helps brands build a presence on Facebook. WPP says this will improve the process by which its clients that want to engage with audiences on Facebook can do so via the Buddy Media Platform.

Web site: www.wpp.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.