WPP has reported a like-for-like net sales drop of 0.1% for the first quarter in its first trading update since the departure of chief executive Sir Martin Sorrell.
Its performance exceeded the forecasts of analysts who had predicted a 1% decline or worse, and was described as “in line with our expectations” by the group’s executive chairman Robert Quarta.
The figures showed like-for-like net sales up 1.6% in the UK and 2.3% in Asia and Latin America.
North America and Western Europe fared less well, however, down 2.4% and 0.2% respectively.
Overall the group reported revenue down 4% at £3.6bn and and Read full story ›
Source: The Drum
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