WPP net sales jump 3.3% in Q3

WPP CEO Martin Sorrell.
WPP CEO Martin Sorrell.

Revenue was up 4.6% year over year in a like-for-like comparison

WPP has reported a hike in net sales, after stripping out the impact of acquisitions and currency fluctuations, for the third quarter of 2015.

Net sales at the marketing services holding company, for the three months up to Sept. 30 September, was £2.52 billion ($3.87 billion) – up 3.3% on a like-for-like comparison with the same period in 2014.

Revenue for the third quarter of 2015 was £2.93 billion ($4.49 billion), representing an increase in reported revenue of 5.9% and a like-for-like increase of 4.6% on the same period in 2014.

Revenue growth using constant currency exchange rates was 7.9%, which reflects the weakness of the pound against the US dollar, although this weakness was offset by the strength of the pound against the Euro and currencies in faster growth markets.

WPP did not provide profit figures for the quarter but said that its constant currency operating margin for the first nine months of the year was up 0.5% on the previous year, exceeding expectations.

Reported revenue for the first nine months of the year at WPP was up 6.5% on the previous year, at £8.77 billion ($13.45 billion). Like-for-like, that growth figure dropped to 4.8%.

WPP predicted that net sales and revenue in the final quarter of the year will grow faster than they did in the first nine months of 2015.

This article first appeared on campaignlive.co.uk.

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