June 13, 2018 / 11:13 AM / a month ago

WPP says four month net sales show improvement

LONDON, June 13 (Reuters) - The world’s biggest advertising agency WPP reported four-month net sales which were marginally up on Wednesday, and said it was focused on improving revenue and managing costs for the rest of 2018.

WPP, hunting for a new chief executive after the dramatic departure of founder Martin Sorrell in April, had reported a 0.1 percent fall in net sales for the first quarter, compared with the 0.9 percent drop recorded in 2017.

“In the first four months of 2018, the group’s like-for-like revenue less pass-through costs was up marginally, a slight improvement over the first quarter’s -0.1 percent,” WPP said in a trading statement before its annual meeting on Wednesday.

For 2018 it has said it does not expect net sales or its operating margin to grow.

Reporting by Sarah Young and Kate Holton Editing by Alistair Smout

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