NEWS25 April 2014

WPP’s Q1 data investment management revenue down 3.8%

Financials News UK

UK — WPP’s data investment management revenue was down 3.8% to £566m in the first quarter of 2014, according to a trading update published this morning.

Res_4011595_Martin Sorrell 2

On a constant currency basis, revenue was up 3.6%. Like-for-like revenue growth was 0.9%.

Meanwhile, gross margin was down 4.5% on a reported basis to £406m, but up 2.8% constant currency, and 0.6% like-for-like. This constituted “a slower rate of growth than the final quarter of 2013”, WPP said, “as the custom parts of the business in both the United States and Canada, together with the call centre operations in the United States slowed”.

However, WPP said: “All regions except North America and Asia Pacific grew in the first quarter, with particularly strong growth in the United Kingdom, Latin America and Africa.”

Total group revenue, including advertising, public relations and branding work, was up 1.5% to £2.57bn.

Pictured is WPP CEO Martin Sorrell.