WPP 3rd qtr. profits up 16%

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WPP Group, London, said gross profit in the third quarter was up 16% from a year ago on revenue of $805.4 million, an increase of 15% when the effects of currency movements are excluded. WPP said specific profit totals are revealed only in its six-month and full-year reports. For nine months, it said revenue was $2.34 billion, an increase of 13.7% over last year when currency movements are excluded. For the quarter, strong growth in continental Europe (up 25% in revenue in constant currencies), the U.K. (up 17% in revenue) and North America (up 14.5%) offset difficulties in Asia Pacific-Latin America-Africa-Middle East (up 5.1% in constant currencies but down 7.8% when the impact of currency changes is taken into account).

Copyright October 1998, Crain Communications Inc.

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