First Quarter Update from WPP

WPP has published its first quarter trading update showing total group revenues up by over 23% and by 18% in constant currency terms. Revenue for the group's Information, Insight & Consultancy operations grew less than for other divisions, by just under 10%, but showed good organic growth and reached £214m.

Information, insight and consultancy's share of total group revenue was down from 17% last year to 16%. Branding & identity, healthcare and specialist communications (including direct, Internet and interactive) was the fastest growing, with sales up almost 23%. Advertising & media investment management saw sales up over 19%. Public relations & public affairs generated revenues up over 14%, and information, insight & consultancy 10%.

On a like-for-like basis, excluding acquisitions and currency, group revenues were up almost 5%, continuing a steady improvement over the last eighteen months. Net new billings of £1.3bn were the highest ever for a first quarter.

All regions, with the exception of the United Kingdom, showed double digit revenue growth. Asia Pacific, Latin America, Africa and the Middle East, is still the fastest growing region, up over 26%. Continental Europe was up over 19%, North America up almost 17% and the UK was the slowest growing region, up over 9%.

The group is online at www.wpp.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.