WPP has reported a 3.8% rise in pre-tax profit and a 2.7% rise in like-for-like revenues for 2008.
The global marketing services group reported profits of £747 million for the year and an operating margin of 15%, although this was below its target of 15.3%, which WPP said was due to a weak fourth quarter.
Advertising and media investment management operations were up by 4.4%, with like-for-like revenue increasing 3.6%. The combined operating margin of this sector rose by more than one point.
East Asia, Africa, Middle East and Latin America was the group’s best performing geographic division, with like-for-like revenues increasing by 8%, while Europe and the UK saw 2% growth.
WPP’s share price increased significantly following its financial statement, up 8.22% (30.75p) to 405p.
