LONDON (Alliance News) - Advertising and marketing giant WPP PLC on Thursday said that reported billings and revenue both increased year-on-year in the first quarter, with trading in line with forecasts.
The FTSE 100-listed group said revenue grew 11% year-on-year in the quarter to the end of March to GBP3.08 billion and grew 4.6% in dollar terms to USD4.40 billion. Reported billings for the quarter grew 8.3% year-on-year to GBP11.92 billion.
In constant currencies, revenue grew 9.0% and by 5.1% on a like-for-like basis, WPP said.
WPP said it saw like-for-like revenue growth in all regions and sectors in the quarter, with very strong growth in the US, the UK and western Europe. Advertising and media investment management segments performed well, as did direct, digital and interactive advertising.
WPP said it secured USD1.78 billion in net new business in the quarter, up from USD1.00 billion a year prior.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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WPP (WPP)
