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THE RACE TO PERFORM: Despite the recession, the top global agency groups show no sign of slowing down in their quest to consume and conquer the industry. Bob Willott investigates.(Brief Article)
The marketing industry may be experiencing tough times, but the global agency groups have lost none of their ambition to make more and more money.
'Double-digit percentage growth' is what Interpublic is aiming for, while WPP is seeking rather more - especially from acquisitions. But WPP's finance director, Paul Richardson, expects that profit growth to come as much from improved margins as from increasing revenue.
Ask any of the majors whether they believe the oft-quoted, but rarely achieved, benchmark profit margin of 15 per cent on revenue (gross income) is still attainable and the response is a resounding 'yes'.
Not only is 15 per cent ...
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