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WPP cuts growth forecast
- Middle East: Saturday, September 01 - 2012 at 04:52
The world's largest advertising group, WPP has said the Middle East, Asia Pacific, Latin America, Africa, and central and eastern Europe remained the strongest markets during the second quarter of this year, Reuters has reported. However, WPP cut its annual growth forecast for the year, saying that customers in the US and western Europe were becoming increasingly cautious on their marketing spend. This follows similarly cautious comments from rivals Publicis and Omnicom, who have also posted results hit by the fallout from Europe's debt crisis. "Q2 was a little bit slower in the U.S. and western continental Europe," WPP chief executive Martin Sorrell told the news service. "The first quarter was strong. But now it is not a lack of confidence, it is uncertainty."
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StaffSaturday, September 01 - 2012 at 04:52 UAE local time (GMT+4)
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