WPP's revenue was up 7.6% for the first quarter of 2012, with its businesses in the Asia Pacific region showing revenue growth of 11.1%.
Growth was reported across all WPP's business sectors and regions of operations, with the Asia Pacific singled out alongside Latin America as providing “particularly strong growth.”
In the three months to 31 March 2012, 28.5% of WPP Group's revenues stemmed from business in the Asia Pacific, Latin America, Central and Eastern Europe and Africa and the Middle East.
The company's total revenue in the first quarter came to US$3.8 billion, with business wins of US$1.855 billion.
WPP's strongest performing business sector was its advertising and media investment management arms, which includes firms Ogilvy & Mather Worldwide and JWT, which saw revenue growth of 8.4%. The company's media investment management company GroupM, which includes Mindshare and MediaCom, made new business billings of just over US$1 billion.
Despite tough global economic conditions, WPP estimated advertising and marketing expenditures worldwide “will continue to rise” as they did throughout 2011.
The company is forecasting gross margin growth of more than 4% in 2012, as Western-based multi-nationals invest in promoting their brands in “fast growing markets”, including the Asia Pacific.
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