Times toughen for WPP, Interpublic and Omnicom
Australia and New Zealand are among WPP’s “difficult” markets at the moment, a trading update from the communications group revealed yesterday.
In its first quarter trading statement, WPP said: “In Asia Pacific, Australia and New Zealand, Japan, Singapore and South Korea were difficult, but Mainland China and India still showed some like-for-like growth.”
In the update, WPP said that its global revenues were down by nearly 6%.
WPP is not the only holdign group updating the market this week. Interpublic said this morning that its revenues had also fallen by just under 6%, while yesterday Omnicom said it has seen a first quarter profit fall of 21%.
Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large.
Linkedin