Advertiser WPP says Olympics, US election to boost fortunes

0 Comments | AFP, August, 2008

LONDON (AFP) — Global advertising giant WPP said Friday that the Beijing Olympic Games and the US presidential elections would boost its fortunes this year as it unveiled a 14.5-percent jump in first-half net profit.

However, the firm added that the outlook for 2009 was "less certain" amid slowing global economic growth, high commodity prices and concerns over growing inflationary pressures.

"Spending behind the United States Presidential Election and around the Beijing Olympic Games should continue to boost 2008 revenues," WPP said in comments accompanying an interim results statement.

It added that "levels of activity in 2008 should match those seen in 2007 and there are significant new business opportunities."

Net profits climbed 14.5 percent to...