WPP reports £204.1m research revenue in first quarter
Ad and marketing group WPP's research division has reported revenue of £204.1m in the first quarter of 2007. This was down 4.6% year on year, which WPP put down to the 11% decline of the US dollar against the pound.
With currency changes excluded, research revenue grew 1.4% – more slowly than the group as a whole. Gross margin was up 5.5%, WPP said, however profit figures were not disclosed.
The division, which includes Millward Brown and Research International under the umbrella of the Kantar Group, has this year acquired US customer satisfaction researcher Foresight International and UK panel provider All Global. The group contributed 15% of WPP's total revenue, down from 16% in the same period last year.
WPP's total revenue for the quarter was £1.37bn, down 0.7% year on year, but up 6.3% with currency changes excluded.
Author: Robert Bain