WPP's Data Investment Management Division (DIM) has reported a 3.6% increase in annual revenue for 2013.
Last year, the company phased out the terms consumer insight and market research and replaced them with 'data investment management', which it says describes the service it offers via agencies such as TNS, Millward Brown, Kantar, GMI, All Global, The Futures Company and Added Value.
For the full year, on a constant currency basis, DIM posted a 3% revenue increase to £2.55bn, while headline profit rose 10.3% to £264m, and margin increased 0.3 percentage points to 14.3%. According to WPP, North America, Asia Pacific, Latin America, Africa and the Middle East 'performed well above the average' in the fourth quarter and the year as a whole, but the UK and Western Continental Europe were described as 'more difficult'.
In a statement, the firm said: 'There seems to be a growing recognition of the value of 'real' data businesses, rather than those that depend on third party data. Custom businesses in faster growth markets and syndicated and semi-syndicated businesses in all markets, remain robust, with strong like-for-like revenue and gross margin or net sales growth.'
Overall for the group, WPP reported a 6.2% revenue increase to £11bn, with headline pre-tax profit up 8.5% to £1.66bn.
The firm, which is led by Sir Martin Sorrell (pictured), is online at www.wpp.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.