ad firm wpp s profits surge 15% uk advertising giant wpp has posted larger-than-expected annual profits and predicted that it will outperform the market in 2005.  pre-tax profits rose 15% from a year ago to reach £546m ($1.04bn)  ahead of average analysts  forecasts of £532m. revenues were £4.3bn while the firm s operating margins were 14.1%  which it said could reach 14.8% by 2006. during the year wpp bought us rival grey global  creating a giant big enough to rival sector leader omnicom.  chief executive martin sorrell on friday told reuters news agency that wpp had submitted a proposal for united business media s nop world market research unit. analysts say the unit sell could sell for up to £350m. wpp in recent years has also bought firms such as ogilvy & mather and cordiant communications. it also includes the firms young & rubicam and j walter thompson. events such as the olympics helped boost wpp s profits in 2004. the company said the us congressional elections and the fifa world cup are likely to present advertising opportunities in the near future. the long-term outlook looks  very favourable  because of media and technology developments and the strength of the us economy  wpp said.