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| Mark Read |
WPP chief Mark Read reported a 1.8 percent spurt in Q1 revenue to $4B as the firm returned to growth in all business lines and most major markets.
Like-for-like revenue was up 6.3 percent.
Read said WPP’s strengths in ecommerce, digital media, technology and investment in creative talent are “resonating with clients as their markets recover and they seek to transform their offer for future growth.”
WPP’s BCW, Hill+Knowlton Strategies, Ogilvy and Finsbury Glover Hering PR operations posted a 3.0 percent drop in reported revenues to $286M.
They grew 2.0 percent on a like-for-like basis.
Greater China, which includes Hong Kong and Taiwan, was WPP’s fastest growing Top Five market as L-F-L revenues surged 18.4 percent. The region rebounded from a 12.1 percent decline during 2020’s final quarter.
UK grew 3.9 percent in Q1. Germany advanced 2.5 percent. US scratched out a 0.7 percent gain. India tanked 0.5 percent.
Reed said the roll-out of COVID-19 vaccines “is improving visibility in many markets, although there is inevitably uncertainty over the pace of recovery.”
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
