WPP raises full year forecast

City A.M. Reporter
WPP, the world's largest advertising group, nudged its full-year outlook higher after strong growth in Asia Pacific and Latin America got the group off to a solid start to 2012.

Martin Sorrell's firm said revenues on a like-for-like basis were up four percent in the first quarter and said it now expected full-year revenues to be up over four percent as opposed to an earlier forecast of around four percent.

Aegis, a British marketing group which specialises in digital and the buying and selling of ad space, said on Friday it had posted first quarter organic revenue growth of 8.1 per cent as it also benefited from strong demand in Asia Pacific and the United States.

"Following the group's record year in 2011, 2012 has started well with all geographies and sectors growing revenues," WPP said in a statement.

"A preliminary look at our quarter one revised forecasts indicates revenue growth slightly better than budget at over four per cent and a slightly better second half."

WPP said it had been boosted by strong demand in its faster growing markets of Asia Pacific, Latin America, Africa, the Middle East and Central and Eastern Europe. Britain continued to perform strongly.