WPP says its overall group revenues in March were up 1 per cent, the first monthly revenue growth it has seen since December 2008.
WPP’s branding and identity, healthcare and specialist communications sector has seen revenues grow by almost 2 per cent in the first quarter of 2010, and more than 2 per cent in March.
In a statement, WPP says, ‘The start to 2010 seems to indicate a change in client attitudes.’
It adds, ‘Calendar 2009 budgets, which are the vast majority, were prepared during or just following the Lehman crisis, staring into the abyss. Calendar 2010 budgets, on the other hand, were prepared having avoided the apocalypse or Armageddon and, perhaps, with more focus on how to achieve top-line growth, rather than just cutting costs.’
The group predicts that a number of ‘mini-quadrennial events’ in 2010 – including the Winter Olympics in Vancouver, the football World Cup in South Africa and the Commonwealth Games in India – ‘will add at least 1 per cent to global like-for-like revenue growth and impact our business similarly’.