WPP Share News (WPP)

- Revenues rise 7.2% in first nine months- New business wins increase - Growth supported by advertising and media investmentAdvertising giant WPP reported a 7.2 per cent rise in revenue to 8.2bn pounds in the first nine months on the back of acquisitions and new business wins. The company achieved new business wins of £4.93bn, compared with £3.35bn a year earlier, according to a trading update.During the period the group completed 29 acquisitions and investments in new markets of which 23 were in new media. The acquisitions, which included advertising and media investment management in Canada, Colombia, China, Hong Kong, Indonesia, Myanmar, Philippines and Thailand, provided a boost to revenue. Advertising and media investment management showed the strongest like-for-like growth, with branding and identity, healthcare and specialist well above the average for the quarter. Public relations and public affairs remain relatively weaker, but improved over the first half."The overall pattern of 2013 looks similar to 2012 and equally demanding, perhaps with slightly increased client confidence more than balancing the lack of maxi- or mini-quadrennial events," the company said."2014 looks a better prospect, however, with the World Cup in Brazil, the Winter Olympics in Sochi and, would you believe, another United States election - the mid-term Congressionals."The group expected like-for-like revenue and gross margin growth of more than 3% for 2013. WPP is targeting an operating margi improvement of 0.5 points."For the remainder of 2013, our prime focus will be on meeting our margin objectives by balancing revenue growth and operating costs and by increasing our cost flexibility," the firm said.RD