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BOSTON Reduced ad spending in some European markets slowed WPP Group’s first-quarter performance, though the company’s revenue still rose 14 percent to about $3.1 billion, the world’s second-largest agency holding company said today.
In constant currency terms, the gain was 9 percent. On a like-for-like basis, factoring out the impact of acquisitions and currency changes, growth was slightly less than 5 percent.
WPP said it remains on target to achieve an operating margin of 15.5 percent this year.
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