PR growth still eludes WPP but trend improves

WPP's PR and public affairs revenues have dropped by 0.9 per cent on a like-for-like basis, but the company is optimistic the next quarter will bring a return to growth.

PR revenues in the third quarter totalled £229m, with 0.7 per cent growth on a reported basis.

The UK-listed marketing services giant’s third quarter results continue the recent pattern of underperformance in PR compared with good progress in its other activities.

At an overall level WPP reported third quarter like-for-like revenue growth of 5 per cent, accelerating from 2.4 per cent in the first half.

However, the rate of decline in PR and public affairs is slowing from the 3.6 per cent like-for-like drop in the first half of the year and the company predicted a return to like-for-like growth in the fourth quarter.

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