WPP: US, UK communications services markets hit hardest by financial crisis

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Communications holding group WPP Group reported revenues rose by 16.2% in the third quarter ended September 30. On a constant currency basis, revenues were up 6%.

North America was the weakest region, with flat revenues compared to a growth rate of 6% in the first half. The financial crisis has had the biggest impact on the communications services markets of the US and UK, according to WPP.

WPP won new business billings worth $1.726 billion during the third quarter.

By sector, revenues were up over 7% for advertising and media investment management and public relations and public affairs; up 4.4% for branding & identity, healthcare and specialist communications (which includes its DM agencies OgilvyOne, 141 Worldwide, Wunderman, RMG Connect and G2), and up 4% for information, insight and consultancy.

In the first nine months of 2008, reported revenues increased 14.9%. In constant currencies, revenues were up 7.4% during the same period
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