Print Published 31st Oct 2017, 18:26

WPP slows down as it predicted

WPP’s revenue slipped by 0.4% in the third quarter of 2017, if currency movements were to be ignored, reflecting the company’s rather gloomy prediction at the halfway stage.

However, favourable currency movements came to the group’s aid and enabled it to report a 1.1% growth in revenue[1] in the latest quarter and an 8.9% improvement over the nine months to date – far ahead of its main global competitors that have reported so far.

[1] WPP prefers to use a “net sales” measure – being revenue less all bought in direct costs – which is also the measure preferred by this publication and usually described as “gross income”.  However, most of the other major global groups have remained wedded to “revenue”.