WPP Reports First Quarter Revenue and Profit Gains

WPP the London-based ad holding company reported a 5.5% hike in revenues for the first quarter to $3.76 billion. The company said profits increased in the quarter versus the same year ago period but did not provide a figure or percentage gain. It said operating profit margins was also “ahead of last year and in line with the Group’s targeted margin improvement” goal of half a percentage point.

Organic revenue growth, which excludes acquisitions and currency fluctuations, reached 4%, in the middle of the pack compared competitors.  Omnicom Group, for example, said its first-quarter organic growth rose 5.1%, Publicis Groupe and Havas reported comparable growth of 4.1% and 3.5%, respectively. Aegis, also reporting today is at the high end of organic growth spectrum for the quarter, reporting an 8.1% gain, while Interpublic is at the lower end with 2.8% (after a 9.3% spurt for comparable year ago period). 

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