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WPP first-quarter revenue rises 1.8%; affirms full-year guidance
StockMarketWire.com
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Advertising company WPP said its first-quarter revenue had risen 1.8% year-on-year amid a return to like-for-like growth in all of its business segments.
Revenue for the three months through March increased to £2.90 billion, with growth on a like-for-like basis of 6.3%.
Revenue less pass-through costs had fallen 1.4%, but risen 3.1% on a like-for-like basis.
WPP reiterated its guidance or the full year.
'WPP has had a strong start to the year with a return to growth in all business lines and most major markets,' chief executive Mark Read said.
'Our strengths in ecommerce, digital media and technology, combined with our ongoing investment in creative talent, are resonating with clients as their markets recover and they seek to transform their offer for future growth.'
'The roll-out of vaccines is improving visibility in many markets, although there is inevitably uncertainty over the pace of recovery.'
'We are making good progress on our transformation programme, which will deliver significant efficiencies to reinvest in growth, and are confident of delivering our growth and profitability guidance for 2021.'
Story provided by StockMarketWire.com
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