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Sorrell upbeat on WPP outlook, expects 'tough' year

Friday, April 26, 2013 - 00:48

April 26 - The world's largest advertising group WPP is raising expectations for its full year growth, after a solid first quarter. CEO Martin Sorrell says he's not proud of 2-3 percent organic growth, and would rather see growth at 4 or 5 per cent. Rough Cut only (no reporter narration.)

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Rough Cut only (no reporter narration.) The world's largest advertising group WPP has nudged its outlook up after a solid first quarter, with CEO Martin Sorrell saying organic growth was up 2.1 per cent. The company expected organic growth for the year to be up 'around 3 per cent' but now expect a slight improvement on this after reviewing the company's performance in the first three months. It does not give profit numbers in the first quarter. The group said its operations in Britain had performed strongly, against the wider market trends. CEO Martin Sorrell says the group managed to increase staff numbers in Britain, against the backdrop of a difficult economic climate. WPP's fast growing markets which include Asia Pacific, Latin America and Africa also performed strongly in the first quarter. The more mature markets of Europe and the United States were the two weak spots.

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Sorrell upbeat on WPP outlook, expects 'tough' year

Friday, April 26, 2013 - 00:48