British advertising group WPP reported a 3.8% increase in comparable revenue less passed-through costs in the third quarter of this year, Reuters reports . The group raised its revenue forecast for the year , but tempered expectations related to operating margin growth. The company said it expects 2022 revenue to increase between 6.5% and 7.0%, compared to the previously expected range of 6.0% to 7.0%. For its part, the general operating margin would increase between 30 and 50 basis points, compared to the forecast of 50 basis points.
The company is on track
Mark Read , CEO of WPP, said: “We top industry data enter the final quarter of the year with confidence, based on the leading competitive position of our businesses, the momentum of our clients and the knowledge that the actions we take to strengthen WPP “They leave us well positioned to help our clients navigate the economic uncertainties ahead. Revenue less costs for the third quarter of the year totaled £2.98 billion . An increase of 3.8% compared to 2021 , and 10.9% compared to 2019. The group’s total revenue increased by 10.3%, or £3.57 billion.
WPP achieves a total revenue increase of 10.3%
The group is growing in three of the Gambling Email List company’s five most important markets: in the United States it reports growth of 4.5%, in the United Kingdom 4.2% and in India 10.7%. For its part, in China they fell by 9% and in Germany by 8.7%. But in the latter market, results were 3.3% higher excluding the impact related to Covid-19 in the previous year. The group’s Public Relations business showed the greatest growth in the third quarter, with revenues of 5.8%. Specialist agencies saw a 3.9% drop in revenue. Group CEO Mark Read said with its £300m transformation savings, adding that it will continue to manage costs “with discipline”
