Martin Sorrell, CEO of WPP, said at a global media summit that trading is "less worse" than it was, reports Reuters, but added that he still expects the group's 2010 revenues to be flat, with some
like-for-like growth in the second quarter, after an initial look at the budgets. "This is not a recovery; it's not the end of recession," he said, noting that clients were focused on cost reductions.
WPP, which includes Ogilvy & Mather and Hill & Knowlton, is posting a fall in third-quarter revenue of 8.7 percent, but sees great potential in new digital media, including electronic readers.
