WPP seeks boost from major events in 2014

With nothing this year to compare with the 2012 Olympics, WPP is warning of a 'demanding' 2013. Picture: AP

STRONG growth in the UK has helped advertising giant WPP deliver better-than-expected revenues for the first three months of the year.

The group, headed by Sir Martin Sorrell, said 2013 would be a “demanding” year because of a lack of major events like last year’s London Olympics, pictured, Uefa championships and US presidential elections.

However, 2014 is a “better prospect” thanks to the World Cup in Brazil and Winter Olympics in Russia.

Like-for-like revenues in the UK rose 3.7 per cent, compared with 1 per cent in North America. However, those regions were left trailing by faster-growing markets elsewhere, including Africa, Latin America and the Middle East, where revenues surged 7.8 per cent. WPP reported first-quarter revenues of £2.5 billion, up 2.1 per cent on a like-for-like basis, which the group said was ahead of its expectations.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: “WPP is a market darling and, as these numbers show, with good reason.”