Aug
27
With Revenues Up, WPP Says It's Still Bullish on China
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WPP, the world’s biggest advertising holding company, reported first-half revenues up 6.8% on a strong performance in North America, and CEO Martin Sorrell said he was still bullish on China despite the turmoil in the stock market.
WPP maintained its 2015 forecast of like-for-like revenue growth of more than 3%. But it also sounded a note of caution about client sentiment in uncertain times.
“To survive and exist in the advertising industry, you have to be an optimist When I listen to the broadcasts by our competitors, or by industry commentators, it’s always very optimistic, ‘How’s everything? Fabulous, wonderful, nothing could be better,'” Mr. Sorrell said during a conference call with investors. “The reality of course is different.”
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