WPP reported a like-for-like revenue increase of 1.9 percent in the public relations and public affairs area for Q1 2012. Revenue for the sector totaled £225 million, or about $365.6 million. In constant currencies, that percentage goes up to 6.8 percent. The company said Burson-Marsteller and Cohn & Wolfe showed the strongest growth. B-M this week announced leadership changes at Proof Integrated Communications and in its consumer and brand marketing practice.
Overall, that means PR and public affairs make up 9.4 percent of total revenue for the company.
Revenue for WPP as a whole totaled about £2.93 billion (about $4.76 billion), up 7.6 percent in pound sterling and 5.5 percent in U.S. dollars. Like-for-like revenue was up four percent.
Like Publicis, WPP highlighted the results in emerging markets. Latin America, Asia Pacific, the Middle East, Africa, and Central and Eastern Europe showed 11.2 percent revenue growth to £681 million (about $1.1 billion) with a like-for-like increase of 9.5 percent. But overall, the results were so good the company has slightly lifted its annual revenue guidance to over four percent, versus the previous guidance of just around that percentage number.
Sir Martin Sorrell (pictured above) told Dow Jones Newswires that he’s seeing “a little bit more optimism, which may be driven by the upcoming Summer Olympic Games and the European Football Championships.”
Separately but related, the annual Sunday Times Rich List has declared Sir Sorrell the wealthiest person working in marcomms in the U.K. and Ireland. All of the richest lists are here. For more about WPP’s earnings, click here.
Update, April 30: The Guardian reports that Sir Sorrell got a 30 percent raise to £1.6 million with a possible £6.5 million bonus. Yowsers.
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