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WPP's Sorrell: Brand America under pressure

Thursday, Oct 24, 2013 - 04:02

Oct.24 - Martin Sorrell, CEO of WPP, the world's largest advertising agency, says America's brand is under pressure due to recent political stalemate over the debt ceiling. He was speaking to Reuters about his forecasts for 2013 / 2014, after the firm posted 5% organic growth in the third quarter, ahead of expectations. Rough Cut (no reporter narration)

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ROUGH CUT (NO REPORTER NARRATION) WPP, the world's largest advertising agency, posted third quarter organic growth of 5%, well ahead of analysts' expectations. Speaking to Reuters, WPP CEO Martin Sorrell told Reuters he had not changed his outlook for 2013. He believes the firm will get a boost in 2014 from better GDP figures, and also events such as the winter Olympics in Sochi, Russia and the FIFA World Cup hosted by Brazil. Sorrell says he is still concerned about certain markets in western Europe, such as France and Italy. He told Reuters the United States' failure to deal with its deficit on a permanent basis has caused uncertainly for WPP's U.S. clients. Analysts had been expecting the group to report good group figures, as its two biggest rivals Omnicom and Publicis are in the process of merging. Sorrell described their merger as a "spectacular opportunity" for WPP to steal a march on its rivals.

WPP's Sorrell: Brand America under pressure

Thursday, Oct 24, 2013 - 04:02

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