WPP, the world’s second largest advertising group, saw revenues grow by 14.1% to $1.6 billion in the first quarter of 2008.
First quarter growth reflected the continued steady overall economic environment despite the continuing uncertainty stimulated by the credit and liquidity crisis and the much slowdown in the US, said WPP.
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.”
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