WPP, the world’s second largest advertising group, saw revenues grow by 14.1% to $1.6 billion in the first quarter of 2008.
However, despite the revenue growth, WPP’s share price dipped 6% in early trading today.
North America, despite US economic uncertainty, saw like-for-like revenues grow by more than 5% year on year to £580.9 million – an improvement over the second half of 2007.
The fastest growing region globally for WPP – Eastern continental Europe – and the Middle East both reported like-for-like revenue increases of more than 21%.
WPP said: “Western continental Europe showed some softening in March, particularly in the major markets of Germany, France and Spain.
“The United Kingdom showed some improvement with growth of almost 2%, a small increase over the last half of 2007.”