Global media group, WPP, has this morning reported a strong set of financial results for the year ended 31 December 1998. Pre-tax profits rose by over 20% year on year to reach £212.8 million and turnover was up by 9.8% at £8 billion.
In a review of its operations last year, WPP reports a strengthening of business in the US, UK and Continental Europe. The worldwide advertising market grew by 5-6% during 1998, and expansions were still being made in Asia Pacific, despite recessionary gloom.
At 10:39am today, WPP’s shares stood at 472˝p, down by 10˝p on last night’s close, despite the strong results.
More details on the company’s analysis of the worldwide media markets to follow…
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