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WPP reports 9 pc growth in revenues in Q3

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WPP reports 9 pc growth in revenues in Q3

WPP has registered a 9 per cent growth in its revenues for the third quarter at £2.457 billion. All markets in Asia, with the exception of Japan, showed double digit revenue growth, with Mainland China up 26.6 per cent, India up 10.4 per cent and Singapore, one of the Group’s largest markets in the region, up 11.9 per cent. Revenues in the BRICs were up 19 per cent, with the Next 11 up almost 15 per cent.

Net new business billings of £1.430 billion ($2.289 billion) were won during the third quarter, well up on the same quarter last year. Net new business billings won in the first nine months of 2011 were £2.631 billion ($4.211 billion) and similar to the same period last year.

On a constant currency basis, advertising and media investment management revenues grew by
12.5 per cent, compared with 11.4 per cent in the second quarter, with advertising up almost 7 per cent and media investment management up 21 per cent. The Group’s public relations and public affairs businesses were up 7.4 per cent, compared with 6.0 per cent in the second quarter, with improvement in almost all brands. The Group’s branding and identity, healthcare and specialist communications businesses (including direct, digital and interactive) grew by 10.5 per cent, above the second quarter growth of 9.1 per cent and 7.9 per cent in quarter one. This improvement was driven largely by the group’s uniquely global direct, digital and interactive businesses, amongst others, comprising OgilvyOne Worldwide, OgilvyAction, VML, G2, Possible Worldwide and Wunderman.

Asia Pacific, Latin America, Africa and the Middle East and Central and Eastern Europe (including the BRICs and Next 11), revenues and digital revenues are both now approximately 30 per cent each of the total revenues, which this year will be approaching $16 billion. WPP has now increased the previous targets of one-third of revenues coming from these geographic and services sectors to 35-40 per cent. Given these industry trends, the strategic focus is now centred not only on strategic planning, creative execution and distribution, but on the application of technology and analysis of data, to the benefit of WPP’s clients and people.

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