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WPP Shows Slight Increase |
The Board of WPP plc has announced the unaudited preliminary results for the year ended 31 December 2009, the Group’s twenty-fourth year and which include the results of TNS. Although 2009 was a brutal year overall the Group adjusted its cost base, after a difficult first six months, to falling like-for-like revenues, achieving the same pro-forma operating margins in the second half of 2009, as in the same half of 2008.
Billings were up 2.7% at £37.919 billion or $59.4 billion. Reported revenue was up 16.1% to £8.684 billion.
In 2009, Ogilvy & Mather Worldwide, JWT, Y&R Advertising, Grey and United generated net new billings of £783 million ($1.214 billion). Â
In the same year, GroupM, the Group’s media investment management company, which includes Mindshare, Mediaedge:cia, MediaCom and Maxus generated net new billings of £1.843 billion ($2.857 billion). Â
Consumer insight revenues grew almost 63%, largely as a result of the acquisition of TNS in October 2008, with like-for-like revenues down
2010 is reported to be a more stable year with the Winter Olympic Games in Vancouver, the Asian Games in Guangzhou, the FIFA World Cup in South Africa, the World Expo in Shanghai and last, but not least, the mid-term Congressional elections in the United States.
GroupM forecasts that global advertising spending (which impacts approximately 39% of the Group’s revenues) will rise by 0.8% in 2010 versus a 6.6% fall in 2009.
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