Sees growth in H2 (Il Sole 24 Ore Radiocor) - London, 25 Apr - The UK advertising group WPP said that in the first quarter of 2024 revenue totalled 3.412 billion pounds, down a reported 1.4% but up 2.1% like for like.

Revenue less pass-through costs fell a reported 5.0%, or 1.6% like for like, to 2.687 billion pounds.

WPP said that the quarterly performance was in line with expectations and confirmed its full-year guidance.

"Our outlook for the full year is reiterated. We remain on track to return to growth in the balance of the year, supported by an encouraging new business pipeline and the strength of our business creatively and in media, both powered by new AI capabilities, while our simpler structure will drive organisational flexibility and stronger cash conversion," said the CEO, Mark Read.

Like-for-like revenue less pass-through costs growth is expected to be 0-1% in 2024, with a headline operating margin improvement of 20-40 basis points excluding the impact of foreign exchange rates, the company said.

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(RADIOCOR) 25-04-24 12:10:52 (0340) 5 NNNN