WPP revenues beat forecasts in third quarter

Advertising giant WPP has reported better-than-expected revenues for the third quarter, lifted by a jump in sales in the UK.

The group, headed by Sir Martin Sorrell, said total revenues for the three months to 30 September grew 7.4 per cent to £2.68 billion, with like-for-like growth of 5 per cent – well ahead of the 3.8 per cent predicted by analysts.

Like-for-like sales in the UK soared 8.1 per cent, while North America, its largest business, was up 4.6 per cent.

WPP said: “Third-quarter like-for-like revenue growth showed a marked increase over the first and second quarters of the year, particularly in the months of July and September, which in the latter case is partly as a result of easier comparatives.”