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LONDON – WPP public relations and public affairs companies, including BCW, H + K Strategies, Finsbury and others, recorded a 0.3% decline at constant scope and exchange rates (less costs). in the first quarter of 2019.
WPP's PR unit increased by 2.7% on a reported basis, net of transmission costs, to £ 270 million. This means that they outperformed two of the other three units in the group, namely advertising and media investment, as well as branding, healthcare and specialties.
In a presentation to badysts, the group noted that BCW had won nearly $ 70 million in new business during its first year since the merger.
"The public relations and public affairs activities of the group are down 0.3%, with
strong growth in Western Continental Europe and the Middle East, "said Mark Read, CEO of WPP, in the results report.
In total, WPP is down 2.8% like-for-like for the quarter. "As expected, our first quarter update reflects the impact of some significant customer losses in 2018, particularly in the United States," said Read.
"Although we are facing a difficult year, especially in the first half of the year, I am encouraged by the ability of our staff, our agencies and our clients to respond to our new strategic direction. year remain unchanged. "
Read also noted that restructuring within specific agencies, including VMLY & R, Wunderman Thompson and Ogilvy, involved reconsidering the traditional sector reporting approach this year, leaving the group with the risk of stopping perceive the revenues of public relations and public relations.
"The restructuring measures we are implementing, including the VMLY & R and Wunderman Thompson mergers, the One Ogilvy strategy and the reorganization of our specialized health care agencies, mean that certain units have been reclbadified by segment and that in the future, they will probably be less significant in reporting these areas as in the past, "said Read. "We will examine the desirability of this sectoral breakdown in 2019."
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