LONDON, April 25 (Reuters) - WPP, the world'slargest advertising group, reported first quarter like-for-likerevenue growth of 7 percent, much better than expected, and saidit had seen a surge in new business wins due to changes in theindustry.
Martin Sorrell's group, which shocked the market in Februarywhen it lowered its 2014 profit guidance due to fiercecompetition, said its revenues had been held back at thereported level due to an 8.1 percent drag from the strong pound.
The bullish trading update follows similarly upbeatstatements from rivals Publicis and Omnicom,which are in the process of merging to overtake the Britishgroup as the world's largest ad firm, and IPG. (Reporting by Kate Holton, Editing by Paul Sandle)