WPP has reported revenues of $8.007 billion for the first nine months of 2013, a growth of 7.2 per cent. Nine months like-for-like revenues were up 3.3 per cent, ahead of consensus.
Revenues in constant currency were up 5.8 per cent, reflecting the weakness of the pound sterling against the euro, the US dollar and certain BRIC and Next 11 currencies. On a like-for-like basis, excluding the impact of acquisitions and currency fluctuations, revenues were up 3.3 per cent compared with the same period last year.
In Asia Pacific, Latin America, Africa & the Middle East and Central and Eastern Europe, revenue growth remained strong and similar to the first half, with constant currency revenues up 7.3 per cent and like-for-like revenues up 5.8 per cent, principally driven by Latin America, Central and Eastern Europe, Africa and the BRICs and Next 11 parts of Asia Pacific and the CIVETS and the MIST. Central and Eastern Europe improved significantly compared with the first half, with like-for-like growth over 7.0 per cent in the third quarter.
Brazil, Russia, India and Mainland China accounted for over $1.72 billion revenues, including associates, in the first nine months.
WPP has reported net new business of $3.716 billion in the third quarter, compared to $1.415 billion in the corresponding period last year, and $7.896 billion in the first nine months, compared to $5.375 billion in the same period last year.