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Last Updated: Friday, 26 August 2005, 07:18 GMT 08:18 UK
Ad giant WPP boosts market share
Sir Martin Sorrell, WPP chief executive
WPP chief Sir Martin Sorrell
The world's second-biggest advertising agency, WPP, has reported a 32% rise in profits, and says it has increased its market share in recent weeks.

Pre-tax pre-exceptional profits rose to 255m at the half-way stage, while like-for-like sales rose 6%.

Business in the US continues to grow, WPP said, despite economic challenges, while Latin America remains the fastest growing revenue earner.

WPP is one of the world's biggest advertising and public relations firms.

With almost 91,000 staff and more than 2,000 offices in 106 countries, WPP is home to advertising stalwarts such as JWT and Young & Rubicam.

Growth shift

WPP's clients include industry giants such as Unilever and Procter & Gamble, car maker Ford and drugs giant Pfizer.

The prospects for our industry remain very good

WPP added that consumers on both sides of the Atlantic remained under pressure from increasing levels of debt, low levels of savings and "potentially fragile" house prices.

This has forced WPP's clients to adopt news strategies to reach consumers.

It reported slower growth in traditional media, such as network television, newspapers and magazines, but more rapid growth in new media such as the internet.

"The prospects for our industry remain very good, as the needs for differentiation through innovation and branding and global expansion grow," WPP said.

CNN Money WPP pre-tax profit rises in first half - 36 hrs ago
Telegraph WPP chief warns of 'two-speed' advertising industry - 36 hrs ago
Sky News WPP Revenues Climb - 50 hrs ago
Reuters WPP ups margin target as H1 profit, revenues rise - 51 hrs ago
Guardian Unlimited WPP profits up 32% - 51 hrs ago
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