WPP, the world's second-largest advertising and marketing services firm, posted third-quarter underlying revenue growth of almost 5%, near the lower end of forecasts as the strong pound impacted sales.
Analysts had expected growth of 5.5%, from a range of 4.5 to 6% after the company flagged strong growth in July.
Third-quarter reported revenues rose 4.9% to £1.48 billion ($3.03 billion) but revenues in constant currencies were up 8.1%, with the strength of the pound against the US dollar reducing the group's revenue growth.
WPP said it had still increased its market share and had not yet seen much if any impact from the liquidity crisis. It also reiterated its optimistic outlook for 2008.
It said next year will to be a big one for the industry with the Beijing Olympics, the US presidential election and the European football championships expected to boost business.
WPP said the UK had seen constant currency growth of 5% compared to 3.7% in the first half, while Asia Pacific, Latin America, Africa and the Middle East also strengthened. North American revenues were up 8%.
In Ireland the Helme Partnership, which was taken over by Grey Worldwide, is now owned by WPP, as is Wilson Hartnell Advertising (now called Ogilvy), and Bates Advertising (now called Hunter Red Cell).
