WPP UK like-for-like revenue up 8.1 per cent
WPP has reported total revenue of £2.78 billion in the first three months of 2015, up 8.3% year on year as UK like-for-like revenues climbed 8.1%.
According to WPP’s quarterly trading update for the first three months of 2015, the owner of MediaCom and J Walter Thompson’s revenue climbed by 7.4 per cent in constant currency, reflecting “currency tailwinds” including the weakness of sterling against the US dollar.
WPP said the strong performance of the UK in the first three months of 2015 followed a slowing in the previous period from October to December 2014. The UK was WPP’s second strongest region from January to the end of March.
Advertising M&A Comment:
This is really encouraging for the whole industry and is a great barometer (and in line with growth forecasts for 2015) for the creative industry in the UK. Also really encouraging for potential vendors – who get the best price in a dynamic market.