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WPP announce a 6% rise in sales over the first two months of 2014

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WPP, the largest advertising company in the world, have recently announced an increase in revenue of more than 6% in just the first two months of the year, thanks to improved business in both western Europe and the U.S. According to CEO Sir Martin Sorrell, the business was stronger in February than it was in January. This compares to a 5.9% rise in the first quarter of 2013. Sorrell said that “Business in the states is strengthening, and western Europe is a little better,” though a 'little better' might appear as something of a modest understatement considering WPP shares have risen by as much as 3.1% in London trading.

Going ahead, in the next five years, WPP plan to raise as much as 45% of their revenue through digital operations

The company's Asian markets have weakened slightly from recent quarters, but they are still outperforming the North American and European markets. Going ahead, in the next five years, Sorrell says the company, whose vast quarry of prestigious advertising agencies includes AKQA and Ogilvy & Mather, plan to raise as much as 45% of their revenue through digital operations; a fast-growing sector that the majority of the 'big' advertising companies appear to be exploiting of late. Sorrell also said that whilst the company missed its earning-margin target last year due to currency fluctuations, and is set to lose its industry's top spot when Omnicom and Publicis merge later this year, they will be picking up four executives leaving those companies, for every one of their own employees moving in the opposite direction.

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WPP CEO 'Sir Martin Sorrell'

Sorrel recently gave a speech at the Ad Week Europe conference in London, where he discussed (amongst other things) the importance of Edward Snowden's revelations into NSA hacking, which he believes the advertising industry is not taking as seriously as they should be. He said that “People understate the importance of Snowden and the NSA,” and that they “Underestimate the impact on consumers.” As a result, he has said WPP will be removing third-party networks from their sites, as he feels it's necessary now to be “More respectful of privacy,” and that “Being more focused on privacy is not bad for business, it can be good.”

Rice5 is an agency on the rise, with unauditied revenues last year, clocking in at HK$16.6 million

In other WPP news; the companies 'Hill & Knowlton Strategies' operating company have recently agreed to acquire Hong Kong-based digital creative agency 'Rice5'. A company founded in 2003, Ricke5 is a great fit for WPP's newfound focus on digital. As well as dealing with innovative brand building and using creative design in order to engage audiences, the agency is well versed in using technology, social and digital media in integrated campaigns. They are an agency on the rise too, with unauditied revenues last year clocking in at HK$16.6 million, and a client list that includes huge names such as Givenchy, L'Oreal, Rayban, and the Hong Kong Tourism Board.

Official WPP Website

Benjamin Hiorns is a freelance writer from Kidderminster in the UK, who believed Edward Snowden to be something of a low-key hero. Kind of like Jack Bauer, but without all the torture and the shouting.

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