WPP Group’s revenue was up 16.2% year on year in the third quarter to £1.72 billion.
However, growth was just 6% if currency fluctuations over the year are ignored and 3% if acquisitions are also ignored.
In a trading statement released today, WPP said that 2009 will be a “very tough year” with no real recovery expected until 2010.
North America was WPP’s weakest region with revenues flat in the third quarter, compared with fist half growth of 6%.
“Overall the second, more severe leg of the financial crisis, which started a few months ago, has had the most impact on the communications services markets of the US and the UK,” WPP said.
The UK saw “some softening” with constant currency growth of 2.9% year on year in the third quarter, compared with 4.6% growth in the first half of the year.
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