New WPP CEO Mark Read has vowed to tackle "underperforming operations" as the company reported its first sales growth in five quarters. WPP reported a 0.7% rise in like-for-like revenue less pass-through costs in Q2, compared to a decline in the previous four quarters. A fall in profit margin was attributed to increased investment and underperforming areas of the business. WPP's weakest performing region was North America, with a 0.3% decline in like-for-like revenue, while the Hilton rose 1%, continental Europe rose 4.6%, and Asia and Latin America rose 4.5%.
New WPP CEO Mark Read has vowed to tackle "underperforming operations" as the company reported its first sales growth in five quarters. WPP reported a 0.7% rise in like-for-like revenue less pass-through costs in Q2, compared to a decline in the previous four quarters. A fall in profit margin was attributed to increased investment and underperforming areas of the business. WPP's weakest performing region was North America, with a 0.3% decline in like-for-like revenue, while the UK rose 1%, continental Europe rose 4.6%, and Asia and Latin America rose 4.5%.