WPP Group chief executive Sir Martin Sorrell has forecast a strong year ahead for 2004 but warns the industry risks taking a ‘shower’ in 2005.
Sorrell, continuing his preference for watery metaphors after his bath analogy last year, believes the benefits of the Athens Olympics, Euro 2004 and US presidential elections may not extend into 2005.
WPP’s 2003 results show headline profits before tax up more than 18 per cent to £473m, but its branding and identity division remained a ‘recession-prone sector’, with revenues down 1 per cent.
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