WPP Tells AGM Of Rising Revenues

WPP held its AGM today and gave a trading update which detailed a positive start to the year. On a constant currency basis, worldwide revenues were up by more than 18%. Within this, UK revenues rose by nearly 11%.

Revenues from advertising and media investment management ended the first five months of 2000 up more than 16%, information and consultancy up nearly 23%, public relations and public affairs up almost 45% and branding and identity, healthcare and specialist communications up almost 10%.

The period also saw the successful merger of the group with Young and Rubicam (see WPP Buys Young & Rubicam For $4.7bn) and progress in winning new clients including Kellogg, Miller, Nestle, Seagrams, Sears, Telefonica, Unilever and Vision Express.

Chairman Hamish Maxwell, presenting the trading update, also paid tribute to David Ogilvy. Ogilvy founded Ogilvy and Mather Worldwide, was a former chairman of the WPP board and was President Emeritus of the group until his death last year.

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