Campaign India Team
Mar 15, 2010

2009 was ‘game of two halves’: Sir Martin Sorrell

WPP chief executive Sir Martin Sorrell used a well-worn football analogy to describe his company’s performance in 2009 before forecasting a return to growth in the second quarter this year. Talking to global business broadcaster CNBC, Sorrell said last year had been “a game of two halves” for WPP.Sorrell said, “In the first half of the year I think we were staring into the abyss. In the second half we certainly saw things becoming less worse.”

2009 was ‘game of two halves’: Sir Martin Sorrell
WPP chief executive Sir Martin Sorrell used a well-worn football analogy to describe his company’s performance in 2009 before forecasting a return to growth in the second quarter this year. Talking to global business broadcaster CNBC, Sorrell said last year had been “a game of two halves” for WPP.

Sorrell said, “In the first half of the year I think we were staring into the abyss. In the second half we certainly saw things becoming less worse.”

Sorrell said the company, which put in a hiring freeze last year as part of a cost-cutting exercise, was now hiring again.

The global holding company, which described 2009 recently as a “brutal year,”  saved an estimated £50 million after becoming a tax non-domicile  in UK and moving its official headquarters to Ireland in 2008.

Asia should provide a reason for cheer for the global holding company, which recently retained Unilever, its largest media AOR in India, after a long drawn out pitch.

 

Source:
Campaign India