LONDON—WPP’s public relations and public affairs operations continued their recovery with constant currency growth of almost 19 percent and like-for-like growth of well over 7 percent—considerably better than the 2 percent public relations growth reported by Omnicom a couple of weeks earlier.
According to the group’s press release, particularly strong performers in the PR and public affairs sector were Cohn & Wolfe, Ogilvy Public Relations Worldwide, Hill & Knowlton, Penn Schoen & Berland in the United States and Buchanan in the United Kingdom. Like other publicly traded holding companies, WPP does not break out revenues by individual agencies.
WPP reported a 36 percent rise in full-year profit for 2005, higher than expectations, helped by the acquisition of Grey Global and strong growth in Latin America and Eastern Europe. Revenue rose 25 percent to ₤5.4 billion. Pretax profit before exceptional items rose to ₤669 million. The results boosted WPP shares by 31p, or about 5 percent.
The company said it expects worldwide advertising spending to grow by 4 percent in 2006.