WPP has cut its sales growth forecasts for 2011, though margins have improved (implying that costs have been cut significantly).
Chief executive, Sir Martin Sorrell, is expecting growth of around 3%-4% in 2012 (down on 4%-6% in 2011), though 2013 may present a greater challenge “when a newly elected president will finally have to deal with the US deficit.”
http://www.ft.com/cms/s/0/12da6cb4-0131-11e1-b177-00144feabdc0.html