The
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This was compared to a 6.5 per cent drop in net sales in the fourth quarter and beat analyst expectations of a 1.5 per cent decline.
The positive figures mirrored similar upbeat updates from rivals Publicis and
“I think the key face is that clients can see a strong recovery in consumer demand as the year progresses,” he told City A.M. “Also we’re seeing a number of companies really invest and reinvent their business for the future.”
Shares in
The ad behemoth’s strongest trading came in
Under boss Read WPP has pursued a strategy of combining its digital and data capabilities with its creative agencies in an effort to update the group for the modern advertising market.
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The company posted 2.8 per cent revenue growth at its global integrated agencies, with VMLY&R the best performer. Its media buying arm
Public relations divisions were up two per cent, driven by strong trading at specialist firms Finsbury Glover Hering and H+K.
“The roll-out of vaccines is improving visibility in many markets, although there is inevitably uncertainty over the pace of recovery,” Read said.
The ad boss added that
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“Relief oozes from these results as the bounce back has clearly begun in the ad world with mothballed projects dusted down and the squeeze on budgets eased,” said
Streeter added that the results were a “milestone” in WPP’s turnaround but warned “caution is still the name of the game”.
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© City AM, source