WPP sees best organic growth in over 10 years

WPP enjoyed its strongest quarterly organic revenue growth for ten years, according to chief executive Martin Sorrell.

However, Sorrell said there is “a tremendous amount of uncertainty” among company bosses about the future direction of the world economy.

He said: “Everything we see in the rear view mirror is good,” adding growth was helped by a recovery in the US and in traditional media.

“We’ve seen sequential improvement, month by month improvement, through to September, with the exception of June.”

However, Sorrell said there was a high degree of uncertainty about the continued economic recovery, especially in the US.

The world’s biggest advertising group by sales saw its pre-tax profit surge a staggering 36 per cent in its second quarter, with its US operations enjoying a better than expected recovery.

This was largely driven by a spike in traditional media, which grew by more than six per cent after a drop of almost 10 per cent last year.

The firm hailed the performance of television advertising, a medium it says is often far too easily written off by critics.

Sorrell said the budget has not yet been set for next year.