City File: WPP sees light at end of the tunnel

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THE recovery is coming. WPP Group will be able to show real revenue growth in its US businesses and in its advertising agencies when it unveils its results tomorrow.

The UK and Europe are still quite soggy, and public relations is poor. But at Ogilvy & Mather and J Walter Thompson, the Babycham, if not the Bollinger, is on ice.

It should all add up to pre-tax profits in the order of pounds 16m, despite restructuring costs of pounds 7m. The shares, though, have had a good run and are no better than a hold.

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