WPP Posts 2.1% Organic Growth in Q1, But U.S. Is Flat
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WPP posted organic revenue growth of 2.1% for the first quarter of 2013, but saw a 1% drop in North America while the U.K. was unusually strong with 3.7% organic growth. In dollars, WPP said its worldwide revenues totaled $3.917 billion in the first quarter.
Organic growth is like-for-like growth, excluding the impact of acquisitions and currency fluctuation. Looking at total revenue growth including acquisitions and exchange rate moves, WPP saw worldwide revenue grow by 5.9% in the first quarter. By that measure, North America was up by 2.5% and the U.K. by 11.9%.
WPP noted that 2013 so far is following a pattern set in late 2012, with improvement in all disciplines except public relations and public affairs, and slowing growth in mature markets like the U.S. and Western Europe, except for a bright spot in the U.K.
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