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BOSTON WPP Group today for the most part blamed the 11 percent decline in the value of the U.S. dollar against the U.K. pound sterling for basically flat Q1 revenue of about $2.74 billion compared to the same period a year ago.
On an organic basis, excluding acquisitions and currency fluctuations, WPP’s Q1 revenue improved nearly 4.5 percent, while the upturn was almost 6.5 percent on a constant currency basis, the holding company said.
The London-based company, led by CEO Martin Sorrell, also said operating margins and profitability for Q1 were on track to attain its full-year margin target of 15 percent.
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