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WPP's Insight Revenue Rises
WPP's Consumer Insight division has reported a 3.2% increase in revenue from £569m to £588m for the first quarter. Like-for-like - allowing for currency changes and the effect of acquisitions - the rise was only 1%.
 The division - which accounts for 23.8% of the group - experienced growth in all regions during the quarter, except for the UK and Western Europe. Growth was 'particularly strong' in Asia Pacific, Latin America, Africa and the Middle East, and like-for-like revenues in North America showed growth for the first time in a 'considerable period'. Gross margin was up 0.9%.
As a whole, WPP's reported revenues rose 6% to £2.53 billion, with like-for like revenues up 2.1%, and growth particularly strong in Asia Pacific, Latin America, Africa and the Middle East
and Central and Eastern Europe.
In a statement, the firm said its 2013 budgets have been prepared on a somewhat 'more conservative' basis than usual, following the slowing like-for-like revenue growth rate in the middle two quarters of 2012. It added that its prime focus will remain on growing revenues and gross margin 'faster than the industry average', driven by its position in the new markets, in new media, and in consumer insight - including data analytics and the application of technology.
Web site: www.wpp.com .
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