WPP reports slow growth for Q3

Communications giant WPP has published its financial results for quarter three, showing that overall growth across all sectors has fallen below expectation.

An overall increase of 3 per cent in the quarter to £1.72bn has been put down to economic turbulence in the UK and US, though the relative strength of the euro has been cited as lessening the impact.

WPP’s branding and identity, healthcare and specialist communications groups grew by 4.4 per cent globally.

Although Asia-Pacific, Latin America, Africa and the Middle East grew across all sectors by 16.5 per cent, Continental Europe grew at 7.2 per cent and Central and Eastern Europe 16.3 per cent.

The UK grew just 2.9 per cent over this period and the United States produced flat revenues.

It is believed that WPP chief executive Sir Martin Sorrell predicts a tough year in 2009 and does not foresee any recovery before 2010.