WPP said on Friday that net profit dipped only slightly in 2009 thanks to cost-cutting and a pick-up in advertising revenues during the second half, adding that emerging markets will fuel growth.

The world's biggest marketing company by revenue, said profit after tax reached 437.7 million pounds last year, down 0.3 percent compared with 2008.

Annual group revenue jumped 16.1 percent to 8.684 billion pounds.

"2009 was a very difficult year and a tale or game of two halves," WPP said in its earnings statement.

The Dublin-based group forecast a "more stable" 2010 thanks to revenue earned on the back of major sporting events, including the Winter Olympic Games in Vancouver and the football World Cup in South Africa.

Following the results announcement, the group's share price fell 0.56 percent to 620.5 pence in early trade on London's benchmark FTSE 100 index, which was half-a-percent lower.

WPP added that organic revenue, a closely watched measure in the advertising industry that strips out acquisitions, disposals and currency effects, fell seven percent in the fourth quarter of 2009 compared with a nine-percent drop in the third quarter.

The group owns a number of advertising agencies including Ogilvy & Mather, Young & Rubicam, JWT and also Taylor Nelson Sofres, which it bought for 1.2 billion pounds in late 2008.

Advertising agencies are slowly recovering after enduring a tough 18 months as companies slashed spending in response to the global credit crunch and economic downturn.

"Worries continue about how and when governments and central banks will withdraw the considerable fiscal and monetary post-Lehman stimulus, as well as the likely impact," WPP said in its statement.

"These already approximate to 12 trillion dollars or approximately 20 percent of worldwide GDP of 64 trillion dollars.

"Withdrawal of the automotive "Cash for Clunkers" stimulus in North America, reduced demand for cars and trucks in the United States from an annualised level of 14 million units to 10 million units. This should serve as a warning," WPP added.

On a positive note, the group said emerging markets would help to fuel the group's growth.

"Geographically, there are relatively brighter spots budgeted in Asia Pacific, Latin America and the Middle East and Africa."

It added: "Central and Eastern Europe, as a whole, remains relatively flat (...) Western Continental Europe is budgeted to be relatively weak, with France, Germany and Spain still challenging.

"The United Kingdom is budgeted flat, with the United States showing a little growth. Latin America remains the healthiest region," WPP said.

-- Dow Jones Newswires contributed to this report --