WPP also made its earnings announcement today reporting revenues up seven percent to £2.2 billion (about $3.6 billion by today’s currency rate) for the period ending March 31, 2011. Like-for-like, revenue was up 6.7 percent. The company’s earnings release also said Q2 was also off to a good start. Among WPP’s PR firms are Ogilvy PR, Burson-Marsteller, and Hill & Knowlton. Other firms under the WPP umbrella include MediaEdge:CIA, JWT, and Grey Worldwide.
The advertising and media investment areas showed “bite-back” the release said, with 12.9 percent revenue growth on a constant currency basis, and revenue totaling £899 million (about $1.5 billion). Branding and identity, healthcare and specialist communications (which includes digital firms) was up 7.9 percent to £563.4 million (about $938.5 million). And PR reported growth of 5.6 percent, up from the final quarter of 2010, which was the strongest of the year. Revenue for this sector was £207.9 million, or about $346.3 million.
Revenue growth in the U.S. was strong at 9.1 percent, with challenges in Western Continental Europe (particularly France and Spain) and the Middle East. Revenue was up 2.2 percent and 1.5 percent in those regions respectively. Asia and mainland China showed 18.4 percent growth combined.
Revenue for North America was £807.9 million (about 1.34 billion). In the U.K. revenue was £271 million (about $451 million). Revenue in Western Continental Europe was £531.9 million, or $885.2 million. And Asia-Pacific, Latin America, Africa, the Mideast, and Central and Eastern Europe reported £612.3 million, or about $1 billion.