Sorrell Confident For the Future
Sir Martin Sorrell’s WPP announced yesterday that its UK revenues increased by 5% in the first five months of 2008.
It also announced growth in like for like global revenue of 4.5% for the first five months of the year. However, this is below the 4.9% predicted by analysts.
WPP said that this was due to slow growth in western Europe.
In a statement released to accompany the group’s AGM, Sorrell said that he was confident for the future owing to WPP’s diversity.
“Looking ahead, you will not need me to remind you that commentators are just about unanimous in their belief that the world economy is in for a bumpy ride,” he said.
“But, perhaps unexpectedly, it is at times like this that we should be particularly appreciative of the unusual nature of the group.”
He added: “In times of change, it’s inevitable that the balance of demand for our skills will also change: but the underlying demand will still be there. We believe we should recognise our good fortune – and perhaps even our good management – in being so evenly represented: both in function and in geography.”
WPP: 020 7408 2204 www.wpp.com