WPP revenue up 4.6%

WPP Group, the advertising and media company, has reported a 4.6% increase in revenue despite "challenging" conditions throughout the UK and western European markets.

The group, which is currently battling to keep the £75m account BSkyB account, reported a 12% increase in revenues for the first nine months of 2006. Its like-for-like revenue is up by 4% for the third quarter.

It says that more than £1.4bn worth of new business was won during the third quarter, and while growth was slow across Europe, the Asia Pacific, Latin America, Africa and Middle East regions recorded revenue increases of more than 20% in the first nine months of this year.

WPP says prospects "remain good" for the remainder of the year.