WPP sees revenues rise by 1.9% in third quarter

WPP has reported 1.9% revenue growth on a like-for-like basis in the third quarter of the year.

Sir Martin Sorrell: CEO of WPP
Sir Martin Sorrell: CEO of WPP
The owner of Burson-Marsteller, H+K Strategies and Cohn & Wolfe saw overall group revenues grow to £2.5bn in the third quarter. Like-for-like revenues are up 3% over the first nine months of this year.

In the UK, WPP’s revenues were up 4.7% like-for-like in the third quarter, well ahead of the previous forecast, with strong growth in advertising and media investment management, consumer insight, PR and public affairs.

However, the UK business showed slower growth in branding and identity and healthcare comms.

In constant currencies, global PR and public affairs revenues were up 3.3% but down 1.7% like-for-like, with North America down across all of the Group’s brands. This was only partly offset by strong growth in the UK, Latin America and Africa.

The company led by Sir Martin Sorrell saw its average net debt increase by £329m (-12%) to £3.105bn compared to last year.

The WPP statement read: ‘In the balance of 2012, our prime focus remains on growing revenues and gross margin faster than the industry average, driven by our leading position in the new markets, in new media, in consumer insight, including data analytics and the application of technology, creativity and "horizontality".

‘At the same time, we will place an increased emphasis on meeting our operating margin objectives by managing absolute levels of costs and increasing our flexibility in order to adapt our cost structure to significant market changes.’

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Latest Articles

New England launches comms hunt to attract UK tourists

New England launches comms hunt to attract UK tourists

The tourist board for the New England region in the US is on the lookout for communications support as it tries to lure more British visitors.

CIPR promotes Phil Morgan to deputy CEO

John Doe gets spirit of summer with Malibu rum win

John Doe gets spirit of summer with Malibu rum win

Pernod Ricard UK has handed John Doe the UK PR account for its Malibu rum brand as it prepares to target 18- to 24-year-olds with a content-focused push.

WPP sees PR revenue recovery thwarted by strong pound

WPP sees PR revenue recovery thwarted by strong pound

Burson-Marsteller parent company WPP has reported a 4.1 per cent drop in PR and public affairs revenue despite organic growth continuing in the final quarter of 2013.