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WPP Net Profits Increase 34% in 2010

WPP PLC, the Dublin-based owner of ad agencies including Ogilvy & Mather, Young & Rubicam and JWT, saw net profits rise 34%, the Wall Street Journal reported. The company attributed the increase to a recovery in emerging markets and in the U.S. WPP forecast a revenue growth of 5% this year.

The net profit increase saw a rise to £586 million while revenue rose to £9.33 billion

The company, who works clients such as Unilever N.V., Johnson & Johnson and Fort Motor Co., said revenue growth in the fourth quarter was 8.5%, passing the record growth of the previous quarter of 7.5%. The company expects its operating profit margin rise 0.5% to 13.7% this year after improving to 13.2% in 2010.
--David Tanklefsky