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WPP reveals record 2005 profits rise.(Brief Article)
Sir Martin Sorrell's WPP has countered the negative PR generated by its high-profile Italian legal wrangle by announcing a record 36 per cent profits rise last year. WPP's share price this week rose 5.5p to 668p in the wake of the news.
The group, whose networks include JWT, Ogilvy & Mather, Young & Rubicam and Grey, saw its pre-tax profits leap to pounds 669 million in 2005.
The rise comes on the back of what it said was the continued growth of the world economy last year.
And it expects its business to grow by 4 to 5 per cent this year as a result of the Winter Olympics, the World Cup and the US mid-term elections.
Sorrell expects the three events together will boost global adspend by 1 per cent.
Analysts ...
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