The British advertising and public relations client WPP plc has released data for the first quarter. The figures are pointing out towards the slowdown in sales growth. The company also has strong interest in the field of marketing. The company officials are assuring that they are on right way to achieve their yearly revenue targets. Overall sales grew around 2.5 percent in first quarter as compared to 3.8 percent last year.
The sales data is based on like-for-like principle. Sir Martin Sorrell, who leads the company informed press that he is happy with the sales situation and all arms of the company are achieving their targets as expected. Net sales growth for the United Kingdom was 3.6 percent. The figure looks small when we consider that United Kingdom is its second strongest market. North American markets delivered the sales growth of 2.1 percent for company followed by only 0.3 percent in the western region of the Europe.
Martin explained that GDP growth worldwide has reduced last year and even in first quarter it was slow in both nominal and real terms. This will of course affect the business but growth rate of the company is definitely above the danger line, he further added. The company is trying to increase its revenue by implementing cost-cutting measures. The company’s target is to improve its margin by 0.3 point and as per the latest data it has achieved more than required in the present quarter. The UK elections and changes in the interest rates by FED is definitely going to impact advertising and marketing budgets of the clients.