WPP 1Q Like-for-Like Net Sales Rose 9.5%

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By Kyle Morris

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WPP PLC said Wednesday that revenue for the first quarter rose as continued momentum from 2021 contributed to growth across all businesses and regions in the period.

The London-based company said like-for-like net sales–a closely-watched measure of the company’s underlying performance–for the first three months of the year rose 9.5% to 2.57 billion pounds ($3.23 billion).

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Total revenue for the quarter was GBP3.09 billion compared with GBP2.90 billion a year earlier.

WPP said it won new business worth $1.8 billion in the quarter.

The company raised its guidance for the full year. Like-for-like net sales is now expected at 5.5%-6.5%, up from around 5% previously.

“The year has started very well with continued momentum from 2021 resulting in strong growth across all businesses and regions. Demand is strong for our services, particularly in digital media, ecommerce, data and marketing technology,” Chief Executive Mark Read said.

Write to Kyle Morris at [email protected]

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Credit: www.marketwatch.com /

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