WPP says earnings rose in 2007, predicts better 2008

0 Comments | AFP, February, 2008

LONDON (AFP) — WPP, the world's second-biggest advertising group, said on Friday that net profit increased by almost seven percent last year and that 2008 would be better as it shook off the global credit crunch.

WPP, which stands behind only US titan Omnicom in its sector, said that net profit rose 6.9 percent to 465.9 million pounds (608.2 million euros, 925.1 million dollars) in 2007 compared with the figure for 2006.

Group revenue increased by 4.7 percent to 6.186 billion pounds, WPP said in an earnings statement.

"We have only preliminary data for January in 2008 and this shows like-for-like revenues up five percent," the company said.

"On the basis of these data, 2008 should be a better year than 2007, against the views of most economic...