Apr
27
Slowdown in North America Impacts WPP in Q1
Posted in: Uncategorized
WPP CEO Martin Sorrell blamed an ultra-competitive market and weaker performances by its clients for a 3% drop in North American like-for-like revenue in the first quarter of 2017.
Like-for-like revenue across the group, excluding acquisitions, was up just 0.2% in the first quarter of the year, although the overall picture was stronger, with total revenue up 1.2% to $4.457 billion.
Speaking to analysts at a results presentation, Sorrell said, “In our analysis of the top 20 clients, it’s clear that the U.S. performance of our clients is not as good as the international performance.”
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