WPP CEO says April, May tougher than Q1

Thu Jun 25, 2009 11:37am EDT
 
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CANNES, France, June 25 (Reuters) - April and May have been tougher for business than during the first quarter, especially in Western Europe, the chief executive of British advertising group WPP Plc (WPP.L) said on Thursday.

Martin Sorrell, who heads the world's largest advertising group by revenue, told Reuters that though clients were more confident, this had yet to result in increased ad spending.

"The first half is very difficult, the second half is looking a little bit better. That is more cosmetic than real because of the comparatives," he said on the sidelines of the Cannes Lions 2009 advertising festival.

"Next year will look even better because the comparatives are even easier, but the underlying tone is still going to be difficult," he added.

WPP, whose advertising agencies include Ogilvy & Mather and Young & Rubicam, competes for budgets with the likes of France's Publicis (PUBP.PA) or Omnicom (OMC.N) of the United States.

Sorrell said signs of recovery were more likely to be found in Asia than in Western Europe.

(Reporting by Cyril Altmeyer, Writing by Dominique Vidalon)

((dominique.vidalon.reuters.com; +33 1 49495432; Reuters Messaging:dominique.vidalon.reuters.com@reuters.net)) Keywords: WPP/

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