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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 registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
WPP suffered a 10.2 percent drop in 1H revenues to $6.7B and a 47.8 percent plunge in operating profit to $297M.
Interpublic reported Q2 net revenues dropped 6.6 percent to $2.2B and operating income tumbled 23.4 percent to $243.7M. 
WPP has adopted a gloomier profit and sales forecast due to a deteriorating Q2 financial performance triggered by weak client spending as companies cope with the challenging economic backdrop.
