LONDON, March 1 (Reuters) - WPP, the world's largestadvertising company, recovered from third quarter weakness topost annual growth in organic revenue ahead of expectations andsaid it had started the year strongly.
WPP reported like-for-like revenue growth of 2.9 percent in2012, beating market expectations of 2.6 percent and in linewith its own targets.
It previously pared back its forecast after a sharp slowdownin North America and Continental Europe in the third quarter.
A strong end to the year echoed performances from rivalsOmnicom and Publicis, who noted an improvementin emerging markets and the United States and were cautiouslyoptimistic on the outlook for 2013.
Many of the macroeconomic problems cited by advertisingcompanies over the last few quarters, including instability inthe eurozone and a slowdown in China, have been easing.
WPP, whose portfolio includes Ogilvy & Mather and Young &Rubicam, works for clients including Microsoft, Procter & Gambleand Shell, said on Friday revenues in January rose 2 percent,with all regions improving except North America.
The group said it was targeting 3 percent like-for-likerevenue growth, adding that it expected 2013 to be similar tolast year in terms of client confidence.
WPP posted headline 2012 pretax profit of 1.3 billion pounds($1.97 billion) on revenue of 10.4 billion, up 3.5 percent. Itraised its dividend 16 percent to 28.5 pence.
WPP (WPP)
