WPP sees revenues rise nearly six per cent in first quarter

(Source: Reuters)

Advertising company WPP has released a quarterly trading update (release). The firm has reported revenues in sterling up by 5.9 per cent to £2.532bn. Trends of strong like-for-like growth in emerging markets such as Asia Pacific, Latin America, Africa and the Middle East continued. However like-for-like revenue dropped in North America and western continental Europe. In the UK like-for-like revenues rose by 3.7 per cent, well ahead of budget.

Staff numbers fell 0.4 per cent like-for-like since 1 January and by 0.5 per cent on average in the first quarter, while revenues rose by 2.1 per cent on a like-for-like basis, when accounting for the impact of acquisitions and currency fluctuations.