WPP records 3.1% increase in revenues in Q3 2014
WPP revenues of £2.763 billion ($4.609 billion) up by 3.1 per cent in Q3 2014. The third quarter constant currency revenues were up by 10.6 per cent and like-for-like revenues up by 7.6 per cent. The Q3 constant currency net sales were up by 6.1 per cent and like-for-like net sales up 3.0 per cent.
In a company statement, WPP said, “Operating profits and operating margins in the first nine months were in line with the target and ahead of last year.”
Like-for-like net sales recorded a growth in quarter three of 3.0 per cent, compared to 4.1 per cent for the first half. The average net debt for the first nine months decreased by £126m (4 per cent) to £2.935 billion compared to last year.
The statement went on to add, “Net new business was recorded at $1.658 billion in the third quarter and $5.747 billion in the first nine months, again ranking first in net new business tables, as has been the case for the last two and three quarter years. This new business success has accelerated into the last quarter, with a particularly strong recent surge of half-a-dozen or so new business wins across the globe, amounting to approximately more than an additional $1 billion in billings.”
Net new business of $1.658 billion in the third quarter and $5.747 billion in the first nine months, again ranking first in net new business tables, as has been the case for the last two and three quarter years. This new business success has accelerated into the last quarter, with a particularly strong recent surge of half-a-dozen or so new business wins across the globe, amounting to approximately more than an additional $1 billion in billings.
