WPP's Revenue Rises by Nearly 16% in Jan-April Period

By Razak Musah Baba Features Dow Jones Newswires

WPP PLC (WPP.LN) said Wednesday its reported revenue for the first four months of 2017 rose 15.9% to GBP4.85 billion ($6.3 billion).

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On a constant currency basis, revenue rose 3.4% and like-for-like revenue rose 0.7% on the comparable period of 2016, the advertising and marketing giant said, adding that constant currency net sales were up 4.0%, with like-for-like net sales rising 0.7%.

"For the remainder of 2017, the focus remains on improving revenue and net sales growth, driven by our leading position in horizontality, faster growing geographic markets and digital, premier parent company creative and effectiveness position, new business and strategically targeted acquisitions," WPP said.

Shares at 1115 GMT were down 33 pence, or 2%, at GBP16.88, valuing the company at GBP21.51 billion.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

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June 07, 2017 07:47 ET (11:47 GMT)