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WPP reports slight rise in four-month comparable sales
June 7, 2017 / 11:52 AM / 6 months ago

WPP reports slight rise in four-month comparable sales

June 7 (Reuters) - WPP, the world’s largest advertising group, reported a slight increase in like-for-like net sales growth in the first four months of 2017, saying there was growth in all regions and businesses, except North America and data investment management.

The British company, led by founder and CEO Martin Sorrell, reported a 0.7 percent rise in like-for-like net sales growth, compared to a rise of 0.8 percent in the first quarter.

Reported net sales rose 16.7 percent to 4.17 billion pounds ($5.38 billion), WPP said in a statement ahead of its annual general meeting on Wednesday.

WPP had rattled investors in March when it cut its 2017 sales forecast, citing an ultra competitive environment in which rivals were having to fight for every dollar of advertising spending.

Shares in the company were down 1.9 percent at 1689 pence at 1129 GMT, making it one of London’s biggest blue-chip fallers. ($1 = 0.7747 pounds) (Reporting by Noor Zainab Hussain in Bengaluru. Editing by Jane Merriman)

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