WPP says advertising sales climb 4.6 percent in third quarter

0 Comments | AFP, October, 2006

LONDON (AFP) — WPP, the British advertising and marketing group has said that sales rose by 4.6 percent during the third quarter compared with the same period in 2005. However, its share price slumped nearly 4.0 percent in early London trade as the rate of sales growth slowed compared with the first half of 2006, dealers said.

Group sales increased to 1.411 billion pounds (2.101 billion euros, 2.664 billion dollars) in the three months ended September 30, compared with 1.348 billion pounds during the same period in 2005, WPP said in a trading update Friday. "Growth was marginally below that seen in the first half of the year, due in part to pressure in the United Kingdom and a slower rate of growth in Eastern Europe in the third quarter," WPP added. The group said its...