WPP FINANCIAL RESULTS
By Adnews Staff
WPP Group plc reported a 12% increase in third quarter revenues, while gross profit rose 11%. Acquisitions accounted for almost 3% of the revenue growth. North American revenues were up 13%, while revenues in Europe and the U.K. jumped 6% and rose 14% in Continental Europe. Growth in Asia Pacific, Latin America, Africa and the Middle East was over 14%. Net new billings reached $290 million(US). For the first nine months of the year, net new billings have reached $1.43 billion. Revenues rose 9%, as did gross profit. Acquisitions accounted for nearly 2% of the revenue growth. North American growth was almost 10%, while the Asia Pacific, Latin America, Africa and the Middle East saw a 15% growth. U.K. revenues went up over 3% and in Continental Europe they increased nearly 10%. WPP is the holding company for such agencies as J. Walter Thompson and Ogilvy & Mather.