WPP on track to return to growth in the balance of the year despite Q1 losses
, April 25 -- Q1 revenue was down 1.4% and LFL revenue was up 2.1%.
However, Q1 LFL revenue less pass-through costs were down 1.6% (Q1 2023: +2.9%) as growth in the UK and Western Continental Europe was offset by declines in North America and Asia Pacific, which saw strong growth in India offset by a decline in China.
According to Campaign UK while WPP expects momentum to pick up as the year progresses, it has blamed the loss of its Pfizer business and continued cuts by technology clients for the 1.6% decline in revenues to £2.7bn in the first three months of 2024.
9 Feb 2024
Campaign UK points out that while the agency group had previously flagged that Q1 would be the toughest, its revenue performance lagged all of its main riva...
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