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| Mark Read |
WPP reported 2.9 percent growth in Q1 revenues to $3.5B, sparked by client spending in the data, communications and customer experience categories.
CEO Mark Read said WPP is off to “positive start to the year” as it continues to invest in growth areas such as influencer marketing and healthcare.
The PR group of Hill+Knowlton Strategies, FGS Global and BCW Global posted a 2.2 percent uptick in revenues to $365M.
"Our public relations and public affairs companies had a solid start to the year, with a particularly strong performance from FGS Global," Read told O'Dwyer's. "It’s evident that clients continue to see the value from our work, particularly as the geo-political environment becomes more complex."
The April announcement that KKR was making a strategic investment in FGS Global was a key highlight for the PR operation.
KKR is taking a 29 percent stake in FGS Global, putting the valuation of the financial communications shop at $1.4B. WPP retains a 51 percent of FGS Global.
Read said WPP is on track to deliver on its full-year guidance of three-to-five percent growth due to the competitiveness of its offer and role as a modern and trusted partner to clients.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
