WPP + Sir Martin Sorrell’s 2007 Standings And Predications

WPP Group PLC posted a 2.9% rise in first-half net profit. Looks like their expansion into China and other far-flung markets is paying off. Net profit rose to$360.5 million. Chief Executive Sir Martin Sorrell predicted a good year for the mega-advertising group with the Bejing Olympics, the Rugby World Cup (which is a big deal everywhere but in America) and the presidential race spurring an increase in market spending. “It’s very early days,” he said, reflecting on the past fortnight’s turmoil in the financial markets, “but our view is that the real test will come after the US presidential election, when the winning candidate has to work out how to deal with the US trade deficit and the weak dollar.”

Despite all this, the United Kingdom and Western Europe were the “sluggards” of the group. Sir Martin also said in addition to WPP that the group saw organic growth of 29% in China and 20% in India, excluding acquisitions. Direct marketing and digital-related campaigns made up about 23% of the group’s revenue.

WPP, which owns JWT, Y&R and the Ogilvy spread, has beat all global rivals with its 2007 performance.