WPP growth hit by US currency decline

martin sorell

WPP Group’s UK business showed some improved in the first quarter of the year with revenue growth of over 2% but it remains the marketing services group’s slowest growing market. The news comes in the same week that the group acquired a 49.9% stake in UK agency Clemmow Hornby Inge.

The group saw an overall decline of 0.7% to £1.366bn, which it says reflects the 11% decline in the US dollar against sterling.

It says:" Western Continental Europe, although still relatively more difficult, has seen some improvement, particularly in France, Germany and Italy. The United Kingdom, although better, remains the slowest growing region in the Group." On a sector basis, public relations and public affairs showed the strongest growth.

The group says it continues to focus on its objectives of improving operating profits by 10% to 15% per year.

WPP is understood to have beat Havas and Dentsu to buy the stake CHI, the advertising agency for Carphone Warehouse and Royal Bank of Scotland.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here