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WPP’s Q4 organic revenue grows 4.8 percent

Posted by Mort Greenberg on April 27, 2008

Article Source: http://apnews.com

 

AP
Friday April 25, 5:32 pm ET

 

WPP Group reports first-quarter organic revenue growth 4.8 percent

 

PARIS (AP) — WPP Group PLC on Friday reported first-quarter organic revenue growth of 4.8 percent, missing analysts’ expectations of 5.4 percent.Still, the British advertising holding company’s revenue was strong in the period, boosted by strength in emerging markets and by new business wins.

On a reported basis, WPP, which owns agencies including JWT, Young & Rubicam and Group M, said revenue rose 14 percent to 1.56 billion pounds ($3.08 billion) in the three months to March 31, compared with 1.37 billion pounds a year earlier. The latest figure beat analysts’ forecasts.

The world’s second-largest advertising and marketing services group by sales, also confirmed its full-year margin target of 15.5 percent.

WPP said Asia Pacific, Latin America, Africa and the Middle East remain its fastest-growing regions, with constant currency growth of over 15 percent.

WPP released strong first quarter revenue numbers but organic revenue growth, a closely-watched industry metric which strips out the impact of acquisitions, disposals and currency movements, was slightly disappointing, Lehman said.

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