WPP posts first quarter profits

WPP has reported a 7.6 per cent rise in first quarter revenues and highlighted strong growth in the Latin America and Asia Pacific regions.

The ad group’s chief executive Sir Martin Sorrell reported like-for-like growth of four per cent which was above the company’s own expectations.

Branding and identity, healthcare, and specialist communications businesses – which includes Landor, Fitch and The Brand Union – grew at ten per cent, with like-for-like growth of 3.8 per cent.

Advertising and media investment  management  and direct, digital and interactive brought the strongest return.

Net new business wins in this sector totalled £1.159 billion which compares to £841 million in the same period last year.  Of this year’s wins Ogilvy & Mather Worldwide, JWT, Y&R, Grey and United generated net new business wins of £285m.

In the UK constant currency growth of five per cent was delivered, up 2.5 per cent like-for-like – again with strong growth in advertising and media investment management, which has been offset by slower growth in consumer insight, digital and interactive.