WPP Warns of 'Very Tough' 2009
WPP does not expect to see any significant economic recovery before 2010, the world's second largest advertising company said yesterday, as it warned that it fears 2009 will be "very tough". Sir Martin Sorrell, WPP's chief executive, said major sporting events in two years' time, including the football World Cup and the Olympic Winter Games, would provide the advertising industry with a major boost. But he warned that sales in the US and Western Europe are likely to fall next year, while growth in other markets will be limited.
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