Sorrell coy over moving back to the UK

Sir Martin Sorrell has greeted the Chancellor’s calls for WPP to return to the UK with a hint of scepticism.

Last week, The Chancellor George Osborne called on Sir Martin Sorrell to bring WPP’s headquarters back to the UK.

In an interview with the Observer, Sorrell says it is “pleasing thing is that [the Conservatives] have honoured their election pledge…but of course one of the things is that what the coalition government guarantees does not bind the next government.” The decision, he says, will be for the board.

The move comes after WPP Group reported worldwide revenues up 1.8% for the first five months of the year in its latest trading statement, with the UK seeing 4% growth in the past two months.

In April, WPP raised its full-year revenue forecast to 2% growth after reporting an upturn in client marketing spend in the first quarter.

Last week, Sorrell and Unilever’s chief marketing officer Keith Weed clashed briefly over social media when the WPP chief stated that “traditional media is still the best way to build brands, and online about promotional”.

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