Marketing services network WPP has reported a slower than expected 3.1% rise in third quarter revenue to £2.76bn. Reported revenue in its Data Investment Management division fell 4.7% to £588m, but allowing for currency effects and acquisitions, like-for-like revenue growth was 0.5%.
The DIM division (previously known as Consumer Insights) houses Kantar companies including TNS, Millward Brown, The Futures Company and many other specialist firms. Overall like-for-like growth in DIM's net sales in the third quarter was 1.2%, with slower growth in North America and the UK off-setting 'well above the [industry] average' growth in Europe, Asia Pacific, Latin America, Africa and the Middle East.
WPP, which is led by Sir Martin Sorrell (pictured), said in a statement: 'In 2014, our prime focus continues to be growing revenues and 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.'
The group is anticipating that net sales in the final quarter of the year will show lower growth than the first nine months of the year, with an improvement in Asia Pacific and Africa and the Middle East, offset by a slower North America, Continental Europe and Latin America.
Web site: www.wpp.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.