WPP: Q1 sales of £3,412m

(CercleFinance.com) - The group announces Q1 sales that are down 1.
4% at £3,412m, although up 2.1% LFL.

Growth in the UK and Western Continental Europe offset declines in North America and Asia-Pacific. Strong growth in India was offset by a decline in China.

Solid progress was made on the strategic initiatives presented at the CMD in January. Burson, GroupM and VML are on track to deliver targeted savings in the year and are well positioned to benefit from a strong pipeline, it says.

WPP reiterates its guidance for 2024. LFL sales growth less pass-through costs should be 0 to 1%, with a 20bp-to-40bp improvement in its overall operating margin (excluding currency effects).


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