WPP posts 5% jump in revenues for first four months of 2012

MUMBAI: Global media conglomerate WPP has posted a revenue of $5.1 billion for the first four months of 2012, registering a five per cent growth over the year ago period.

Continuing the trend form 2011, advertising and media investment management and branding and identity, healthcare and specialist communications (including direct, digital and interactive) were the strongest services sectors.

Also in continuation was the pattern of slower growth in the mature markets of the United States and Western Continental Europe. Asia Pacific, Latin America, Africa and the Middle East and Central and Eastern Europe continued to post strong growth.

Growth in the BRIC countries was over 14 per cent, while Latin America continued to show the strongest growth of all of our sub-regions in the first four months with constant currency revenues up 16.1 per cent. The Middle East remained the most challenged sub-region, although April showed a significant improvement over the first quarter.

BRIC countries accounted for over $760 million revenues, including associates, in the first four months and over $2.3 billion in the full year 2011.

For the remainder of 2012, the company’s focus will remain on growing revenues and gross margin faster than the industry average, driven by its leading position in new markets, new media, consumer insight, including data analytics and the application of technology and ‘horizontality’, the company said.

At the same time, it will concentrate on meeting its operating margin objective by managing absolute levels of costs and increasing cost flexibility in order to adapt structure to significant market changes.

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