WPP Share News (WPP)

Advertising giant WPP Group said revenues, profits and operating margin in the first five month of the year are 'well ahead'.On a like-for-like basis, excluding the impact of acquisitions and currency fluctuations, revenues were up 2%. The group said year-to-year comparisons continue to improve, with like-for-like revenue growth showing sequential improvements for the first five months, and with May revenue growth of well over 5%.In the first quarter, the United States showed strong like-for-like growth, continuing in April and May, with combined revenue growth of over 7% and well over 5% year to date. The United Kingdom has also shown continuous improvement this year, with revenue growth in both April and May well over 4%. Continental Europe overall was flat, although Eastern Continental Europe showed revenue growth for the first five months of over 1%. Western Continental Europe, however, remains difficult, with revenue down slightly in the first five months, with France and the Netherlands the most challenging. However, Germany and Belgium performed relatively better, especially in April and May, with Italy also showing signs of improvement. In Eastern Continental Europe, Russia and the Czech Republic performed well, with revenue growth in the first five months of over 12% and almost 7% respectively.WPP still expects to post around 2% organic revenue growth in the full year.The Winter Olympics in Vancouver, Asian Games in Guangzhou, the FIFA World Cup in South Africa, the IPL cricket league and Commonwealth Games, both in India, The World Expo in Shanghai and the United States mid-term Congressional elections, have a positive effect on the group's revenue growth and may add 1% to industry-wide growth, it added.However, the group said it continues to be cautious amid European debt worries, the effect of government's austerity measures and fears for US growth later this year."It has been a pretty bumpy ride - and it is not over yet. Nor, in one sense, will it ever be over," WPP said."There is never a time in a competitive market such as ours when our companies can sit back and relax and let the business roll in. To continue to win means continuing to compete - every day, all the time."