WPP reports revenue rise

WPP says its reported revenues were up by 7 per cent in the first quarter of 2011 from the last quarter of 2010, to stand at £2.223bn.

Revenues in the branding and identity, healthcare and specialist communications sector were up by 7.9 per cent in the same period.

The group says revenues as a whole were up by 6.7 per cent and gross margin up by 7.4 per cent compared with the same period last year.

The group says, ‘In 2010 we were surprised at the speed of the recovery in the more mature markets of the United States and Germany and in more traditional media, like free-to-air television.

‘This pattern has continued into the first quarter of 2011, although as indicated in the budgets for this year, the faster-growing markets of Asia-Pacific, Latin America, Africa and the Middle East, and Central and Eastern Europe are growing even faster. They were last into recession and last out.’

The group adds, ‘The second quarter, according to our budgets and quarter one revised forecasts, shows stronger growth in Asia-Pacific and Latin America, counterbalanced by lower growth in the United States.

‘2012 will see the maxi-quadrennial impacts of the London 2012 Olympic and Paralympic Games, the Eastern European-based Uefa Euro 2012 Football Championships and United States presidential elections.

‘The difficult year may well be 2013, when newly elected or re-elected governments have to wrestle with the impact of fiscal and monetary stimuli and the failure to deal quickly enough with fiscal deficits.’

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