WPP's 2002 Profits Drop 19%

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NEW YORK WPP Group plc reported Monday that 2002 profits, before tax, goodwill and impairment, fixed asset gains and investment write-downs and FRS17 interest, slid 19 percent to over $602 million. Revenue in the year dropped almost 3 percent to $5.9 billion.

Despite those results, WPP said it had seen a reduction in the rate of that decline during each quarter of 2002, with the US showing revenue growth of almost 2 percent in the fourth quarter, the first growth in almost two years.

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