WPP beats forecasts with 5 percent organic growth

Reuters

LONDON, Oct 24 (Reuters) - WPP, the world's largestadvertising company, posted third quarter organic revenue wellahead of expectations, as it stole a march on its two biggestrivals which are locked in the process of merging.

The British firm, run by Martin Sorrell, said like for likegrowth was up 5 percent in the third quarter, a clearacceleration from the 2.4 percent growth it reported in thefirst half. It did not change its outlook.

The group said the improved trading was due to an easiercomparative last year and improvements in North America, Britainand Latin America.

Analysts had been expecting the group to report organicgrowth for the three months to the end of September of 3.8percent. Several had suggested that WPP could do well as its twobiggest rivals Omnicom and Publicis arehammering out the details of their merger.

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