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WPP Group reported strong results from its traditional and digital media services groups, as well as an increase of 5 percent in billings. Overall, the company had mediocre growth for the first half of 2006, with reportable revenue up just 2 percent.
That increase, to $5.8 billion, was due primarily to the strength of the British pound vs. the U.S. dollar, MediaPost writes.
The company’s media and marketing research business was the weakest sector during the half, with total revenues slipping 1.6 percent, while PR and public affairs grew the most, up 7.8 percent.
Media investment management showed the strongest growth of all the company’s communications services sectors, along with direct, internet and interactive.
Direct and digitally-related activities now account for approximately 23 percent of WPP’s total revenues, which are running at the rate of approximately $12 billion per annum. Brand advertising, particularly in the new faster growing markets, along with information, insight & consultancy and branding & identity, healthcare and specialist communications, show consistent growth.
Growth in all regions improved over the first quarter growth, but the Asia Pacific, Latin America, Africa, the Middle East were the fastest growing regions, with revenues up almost 12 percent. Asia Pacific grew almost 11 percent, while mainland China and India were up almost 29 percent and 22 percent respectively. Continental Europe was up 6.0 percent, and Central and Eastern Europe grew almost 19 percent.
The U.S. grew 8 percent. The U.K. remains the slowest growing region, with revenues up 3.7 percent
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