China eclipses UK’s ad market growth
The UK advertising market remains the slowest growing while rapid growth continues apace in India and China, according to WWP Group in its interim results for the six months to June 30.
The market services group, which owns the Mindshare network and recently acquired CHI & Partners, reported a 5.5% increase in like-for-like revenue for the period with pre-tax profits up 2.4% to £294.1m. It bought in an estimated £1.56bn in new business billings.
The UK market saw a 3.7% increase in revenue for the six months despite being the slowest growing region. Asia Pacific, Latin America, Africa and the Middle East, Central and Eastern Europe were the fastest growing regions accounting for 23% of group revenue.
The group, headed by chief executive Martin Sorrell (pictured), reported the strongest growth across media, direct, internet and interactive communications. Direct and digital work now accounts for 23% of the group’s total revenue.
