UK market challenges WPP

Media and advertising giant WPP reported a hike in revenues today, but admitted markets in the UK and Western European remained challenging.

WPP, which owns agencies including Ogilvy & Mather and Hill & Knowlton, said third quarter revenues rose 4.6% and by 4% on a like-for-like basis.

It said turnover hit £1.41bn (€2.1bn) during the three months to September 30 compared with £1.35bn (€2bn) in 2005 and insisted prospects for improvements in trading performance remained good.

The company said: “Like-for-like growth in the third quarter was marginally below that seen in the first half of the year, due in part to pressure in the UK and a slower rate of growth in Eastern Europe in the third quarter.”

WPP employees 97,000 people in 2,000 offices around the world and specialises in a range of sectors from public relations to brand identity and advertising to promotions.