Landor Associates, The Brand Union, Addison, The Partners and Fitch have been singled out as having performed particularly well in 2007, according to WPP’s preliminary results for the full year.
The international media and advertising conglomerate reported preliminary figures this morning, with an increase of 5.5 per cent in profit before tax, and revenues of £6.2bn.
The group’s branding, identity, healthcare and specialist communications revenues rose by more than 14 per cent. This area of the business accounted for 28.7 per cent of the group’s total revenues in 2007.
This compares with advertising, media and investment management, which accounted for a total of 46.2 per cent of total revenues, with growth of around 5.1 per cent.
According to WPP, the financial world’s sub-prime and insurance monoline credit crisis had ‘little or no impact’ on the group’s financial performance in 2007.
Growth in UK revenues stood at four per cent, accounting for more than 14 per cent of the group’s total revenues. This compared with Latin America, ‘one of the fastest growing’ regions at 13.7 per cent growth.
According to WPP, the ‘faster growing regions of Asia Pacific, Latin America, Africa, the Middle East, and central and eastern Europe now account for more than 24 per cent of revenues, against the target of one-third over the next five to ten years’.
WPP chief executive Sir Martin Sorrell predicts that any economic slow down will come in 2009, with the arrival of a new US president getting to grips with government spending.
2010, however, he says, could prove a much stronger year, with the FIFA World Cup in South Africa, the Winter Olympics in Vancouver, and the mid-term Congressional elections in the US stimulating activity.
WPP is also parent to groups including Syzygy, Lambie-Nairn, Digit, Design Works, Coley Porter Bell, The Farm, The Brand Shop and Big Idea Group.