Revenues Fall At WPP
Apr 22, 2002, 12:00 AM
WPP Group, the world's second biggest advertising group, revealed today that there had been no pick up in its battered industry since the end of last year as it reported a slip in first quarter revenues. Stripping out the effect of WPP's many acquisitions, revenues fell by almost 9% from the same quarter last year, in line with analysts' expectations. Smaller British advertising company Cordiant added to the downbeat mood when it said profits had more than halved last year and forecast no revenue growth this year.