WPP reports rise in profits

WPP, the second largest marketing services group, reported a 15.2% increase in profits for 2006. It follows a 7.2% increase in like-for-like revenue growth in the fourth quarter.

The company says that Latin America, mainland China and India remain the fastest growing markets for marketing services but the US also showed positive like for like growth of 4.6% in the second half of the year. It adds that the UK showed some “renewed signs of life” in the second half of the year, particularly the fourth quarter.

The group, which is headed by Sir Martin Sorrell, predicts that 2007 will see steady growth in economic conditions and a growth in worldwide sales and marketing services of at least 4%. It also says that the year should benefit from the build-up to the US Presidential elections and the Beijing Olympics in 2008.