WPP Group, the world's third-largest advertising company, said today its third-quarter like-for-like revenues climbed more than one per cent and said prospects for 2004 remained better.
The company's reported revenues, including the effect of acquisitions and currency fluctuations, climbed nearly 11 per cent to £1.03 billion pounds (€1.75 billion) due to the weak US dollar and its acquisition of smaller rival Cordiant earlier this year.
"We are climbing further out of the bath," the company said, with the US presidential election and the Athens Olympics are poised to stimulate advertising spending next year.
WPP's North American business continued to improve, posting its fourth consecutive quarter of accelerated growth, with steady growth in Asia, Latin America, Africa and the Middle East.
Britain continues to be affected by the recession, the company said, but with less impact than in the rest of Europe.
Issuing a note of caution, the company said it is concerned about inflation in 2005 due to government deficit spending on both sides of the Atlantic.