WPP's Consumer Insight Arm Grows 3.4% in Q1

Consumer insight revenues at WPP have risen 3.4% on a constant currency basis, to £552.8m in the first quarter of 2011, compared with £542.5m in the prior year period.

The division includes TNS, Millward Brown, Added Value, Cymfony, Compete, Kantar, Lightspeed Research and IMRB.

During the period, the division's revenues in North America, the UK, and Western Continental Europe were described as 'weaker', while stronger growth was seen in Asia Pacific, Latin America, Africa and the Middle East - despite what the firm calls the current 'political and human challenges' in North Africa, the Middle East and Japan.

In the first quarter of 2011, reported revenues for the group as a whole were up 7.0% at £2.2 bn, a rise of 8.4% on a constant currency basis, reflecting the strength of the pound sterling against the US dollar and Euro.

The firm said in a statement: 'The pattern of revenue growth in 2011 has started similarly to the second half of 2010, with improvements across all sectors and geographies. Our budgets for 2011 indicated like-for-like growth of 5% over last year and for the first three months we were in line with those projections.'

For the rest of 2011, the group says its focus will be on ensuring its operating companies balance revenue and headcount growth, and investing in both existing and new talent, where necessary.

According to the firm's revised forecasts, the second quarter will see stronger growth in Asia Pacific and Latin America, counter-balanced by lower growth in the United States.

Web site: www.wpp.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

• BMRB
• All news
• MrWeb info