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WPP Group revised its 2012 forecast upward as it reported like-for-like revenue rose 4 percent in the first quarter. The Dublin-based company now expects “slightly better” growth of over 4 percent this year and a stronger second half.
Like-for-like revenue excludes the financial impact of acquisitions and currency fluctuations.
WPP’s reported revenue in dollars climbed 5.5 percent to $3.76 billion in the quarter. The company also said first-quarter profits, which it is not required to disclose, and operating margin are above budget and ahead of last year.
Like its ad industry peers, WPP’s growth was fueled by emerging markets and digital operations.
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