WPP's LFL sales better than anticipated

Highly acquisitive media giant WPP has had a strong start to 2012 with like-for-like revenue growth coming in ahead of expectations in the first quarter.

The group, led by frontman Sir Martin Sorrell, said revenue in the three months to March 31st totalled £2,392m, up 7.6% on last year's £2,223m.

"Our budgets for 2012 indicated like-for-like growth of around 4% over last year and for the first three months actual performance was in line with those projections. A preliminary look at our quarter one revised forecasts indicates revenue growth slightly better than budget at over 4% and a slightly better second half," the firm said.

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Meanwhile, the group gained a total of £1,159m in net new business wins (including all losses) in the first quarter, compared with £841m the year before.

BC