By Claire West
WPP the marketing communications services giant reported that third quarter revenues rose by 12.2% to £2.253 billion.
The Group also announced that the highest quarterly like-for-like growth rate since the fourth quarter of 2000
"This continuing overall improvement is most welcome, particularly after the brutality of a post-Lehman 2009. Calendar 2010 looks set fair with a good fourth quarter in prospect, particularly as most of our clients budget on a calendar year basis."
In the first nine months of 2010, reported revenues were £6.694 billion, up 6.3% (up 5.7% in US dollars to $10.251 billion and up 10.1% in Euros to €7.818 billion).
In constant currencies, revenues were up 4.5%, again reflecting the weakness of the pound sterling against most major currencies, other than the Euro. On a like-for-like basis, excluding the impact of acquisitions and currency fluctuations, revenues were up 4.1%.
WPP PLC (WPP.L)