GroupM the growth engine at WPP

LONDON - WPP's media agencies were the company's best-performing operations last year, according to the company's 2007 results released today.


GroupM, WPP's media trading group, which oversees MediaCom, MindShare and Mediaedge:cia, brought in £3.7bn of new billings globally in 2007, making it the outstanding performer among WPP's marketing and communications offerings.

WPP's media businesses expanded collectively by more than 14% year on year for the third year in a row, recording a growth rate almost three times higher than WPP's overall revenue growth rate.

Overall, the global ad network, run by Sir Martin Sorrell, posted pre-tax profits of £719m, up 5.5% from the previous year's figure of £766m, while revenue was up 5% to £6.19bn.

The UK, however, continued to be the slowest-growing region. Revenue growth was 2% for the second half of the year, compared to 5% in Continental Europe, 31% in China and 23% in India.

WPP said the recent turbulence on the global financial markets had had "little or no impact" on the group's financial performance last year, providing an upbeat business outlook for 2008.

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