WPP, the world's largest advertising group, said trading in August was in line with the first seven months of the year and it has not seen any reason to lower its outlook for 2012, Reuters reported. Chief executive Martin Sorrell, speaking to journalists on the sidelines of the Royal Television Society conference, said on Friday WPP would have finalised budgets for 2012 in mid-December. Asked if he had seen anything to change the outlook for 2012, he said: "Not yet, but it would be unrealistic to believe that all the stuff that you (journalists) put out does not have an impact. They are human beings and they are going to be more cautious." Sorrell has previously told Reuters clients invariably budget on an annual basis and therefore he did not expect a drop-off this year. Trading in August was "pretty much in line with the first seven months, so no shocks yet", he said, adding that free-to-air TV advertising had remained strong. The group has also been boosted this year by strength in the United States and faster growing markets such as China and India. Like-for-like sales were up 5.9 percent for the first seven months, WPP said in August, which put it slightly below its recently upgraded annual forecast of at least 6 percent growth. Sorrell repeated his belief that client spending in 2012 would be supported by events such as the London Olympics and U.S. Presidential election. He was more cautious about what happens in 2013, when the U.S. president has to tackle the deficit. -- SPA
