Record profits for WPP Group

Design and communications giant WPP Group has announced record profits for the year to 31 December 1997, with its design consultancies performing well.

Anspach Grossman Enterprise, SBG Enterprise, Sampson Tyrrell Enterprise, Oakley Young Associates and BDG McColl helped push WPP’s turnover up 2.9 per cent to 7.3bn.

Operating profit rose 13 per cent to 205.5m; operating margin climbed a full point to 11.8 per cent. Specialist communications, which includes WPP’s design and direct marketing, saw gross profit rise by almost 12 per cent.