WPP's Data Investment Management (DIM) division saw revenues fall 3.8% to £566m in the first quarter of 2014, while net sales dropped 4.5% to £406m.
DIM (formerly known as Consumer Insight) comprises WPP's Kantar companies including TNS, Millward Brown and many other specialist insight agencies.
Overall, WPP reported a 1.5% revenue increase to £2.57 billion for the first quarter of the year. Like-for-like revenue grew by 3.4% in North America to £915m, and by 12.2% in the UK to £357m, but was flat across West Continental Europe at £592m and fell by 4.1% to £706m across Asia Pacific, Latin America, Africa & the Middle East, and Central and Eastern Europe.
In a statement, WPP said: 'In 2014, our prime focus will remain on growing revenues and gross margin or net sales faster than the industry average, driven by our leading position in the new markets, in new media, in data investment management, including data analytics and the application of technology, creativity and 'horizontality'. At the same time, we will concentrate on meeting our operating margin objectives by managing absolute levels of costs and increasing cost flexibility, in order to adapt our cost structure in case of significant market changes.'
Web site: www.wpp.com .
All articles 2006-19 written and edited by Mel Crowther and/or Nick Thomas.