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PANAMA CITY, April 3 (Reuters) - WPP, the world'slargest advertising group, should be earning 15 percent of itsrevenue from Latin America in five years, Chief Executive MartinSorrell said on Thursday.
"I would say you would anticipate that, in five years, LatinAmerica would at least be 15 percent, and if we acquireaggressively, which we tend to do around in fast growth marketsin digital and in data, that should even bump it up further,"Sorrell told Reuters at a conference in Panama City.
Latin American countries accounted for $1.7 billion, or 8.1percent, of WPP's $21 billion of 2013 revenue, includingassociate companies in which it owns 20 percent to 49 percent,Sorrell said.
Sorrell said that, despite recent protests in Venezuela andeconomic woes in Argentina, he was very bullish on thecontinent.
He added the biggest short-term issue was currencydevaluations that have happened across many emerging markets,such as Brazil and Argentina.
WPP's biggest clients in Latin America include BritishAmerican Tobacco Plc, Coca Cola Co and Claro, a unit ofCarlos Slim's phone company America Movil ($1 = 0.6029 British pounds) (Reporting by Christine Murray. Editing by Andre Grenon)
