WPP: shares slip after AGM trading update.
(CercleFinance.com) - British advertising company WPP announced on Wednesday that its revenue had risen by 15.
9% to over 4.8 billion pounds over the first four months of 2017.
The group's revenue in constant currency was up 3.4% over the period, reflecting the weakness of sterling against the US dollar, the euro and other major currencies.
On a like-for-like basis, excluding the impact of acquisitions and currency fluctuations, revenue was up just 0.7% compared with the same period last year.
However, the group points out that this number marks an improvement over Q1 growth of 0.2%.
In a trading update made before its AGM, WPP - which describes a "highly competitive" market - said budgets indicate top-line revenue and net sales growth of around 2% for 2017 as a whole.
After these announcements, WPP shares were down 2% at 1,686 pence.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
9% to over 4.8 billion pounds over the first four months of 2017.
The group's revenue in constant currency was up 3.4% over the period, reflecting the weakness of sterling against the US dollar, the euro and other major currencies.
On a like-for-like basis, excluding the impact of acquisitions and currency fluctuations, revenue was up just 0.7% compared with the same period last year.
However, the group points out that this number marks an improvement over Q1 growth of 0.2%.
In a trading update made before its AGM, WPP - which describes a "highly competitive" market - said budgets indicate top-line revenue and net sales growth of around 2% for 2017 as a whole.
After these announcements, WPP shares were down 2% at 1,686 pence.
Copyright (c) 2017 CercleFinance.com. All rights reserved.