WPP 3Q Turnover Rises 1.1%; Sees Fiscal Year 2017 Comparable Revenue Broadly Flat

By Ian Walker

WPP PLC (WPP.LN) reported Tuesday a 1.1% rise in turnover for the third quarter of the year, and said it expects like-for-like revenue and net sales growth to be broadly flat for the year as a whole.

The world's largest advertising group said net like-for-like sales--a measure used to judge the company's underlying performance--in the quarter fell 1.1%, compared with a fall of 0.5% in the first half.

The U.K.-based company, whose agencies include J. Walter Thompson and Mindshare, said it won $2.12 billion of new business in the quarter, taking the total for the nine months as a whole to $6.36 billion.

WPP's reported operating margin rose 0.1 points in the quarter, and were flat on a constant currency basis. It expects operating margin to be broadly flat on a constant currency basis for the year.

Write to Ian Walker at [e-mail]; @IanWalk40289749

(END) Dow Jones Newswires

October 31, 2017 03:44 ET (07:44 GMT)

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