Business
WPP 2017 Third Quarter Trading Update
WPP 2017 Third Quarter Trading Update.
About this update from Wpp Plc
[{"type":"text","content":"\n \nRNS Number : 0637V WPP PLC 31 October 2017 \n\n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n31 October, 2017\n\n\n\n\n \nWPP | Third Quarter Trading Update\n \nn Third quarter reported revenue up 1.1% at £3.649 billion, up 0.8% at $4.780 billion, down 4.2% at €4.067 billion and up 9.3% at ¥531 billion\nn Third quarter constant currency revenue down 0.4%, like-for-like revenue down 2.0%\nn Third quarter constant currency net sales up 0.9%, like-for-like net sales down 1.1%\nn Nine months reported revenue up 8.9% at £11.053 billion, flat at $14.107 billion, up 0.4% at €12.676 billion and up 3.3% at ¥1.578 trillion\nn Nine months constant currency revenue up 1.1%, like-for-like revenue down 0.9%\nn Nine months constant currency net sales up 1.7%, like-for-like net sales down 0.7%\nn Nine months reported operating margin up 0.1 margin points, flat in constant currency, up 0.1 margin points like-for-like\nn Preliminary quarter 3 revised forecast indicates like-for-like revenue growth, net sales growth and constant currency operating margin broadly flat for the year \nn Average constant currency net debt up by £519 million for the first nine months of 2017 to £5.036 billion, primarily reflecting continued significant acquisition activity and share buy-backs\nn Net new business of $6.363 billion in first nine months compared to $5.374 billion in the same period last year, with the Group leading net new business league tables\nn Share buy-backs of £396 million in the first nine months, up from £342 million in the same period last year, representing 1.9% of the issued share capital, against a full year target of 2.0-3.0%\nRevenue analysis\n\n\n\n\n£ million\n\n\n2017\n\n\n∆ reported\n\n\n∆ constant[1]\n\n\n∆ LFL[2]\n\n\nAcquisitions\n\n\n2016\n\n\n\n\nFirst quarter\n\n\n3,597\n\n\n16.9%\n\n\n3.6%\n\n\n0.2%\n\n\n3.4%\n\n\n3,076\n\n\n\n\nSecond quarter\n\n\n3,807\n\n\n10.0%\n\n\n0.3%\n\n\n-0.8%\n\n\n1.1%\n\n\n3,460\n\n\n\n\nFirst half\n\n\n7,404\n\n\n13.3%\n\n\n1.9%\n\n\n-0.3%\n\n\n2.2%\n\n\n6,536\n\n\n\n\nThird quarter\n\n\n3,649\n\n\n1.1%\n\n\n-0.4%\n\n\n-2.0%\n\n\n1.6%\n\n\n3,611\n\n\n\n\nFirst nine months\n\n\n11,053\n\n\n8.9%\n\n\n1.1%\n\n\n-0.9%\n\n\n2.0%\n\n\n10,147\n\n\n\n\nNet sales analysis\n\n\n\n\n£ million\n\n\n2017\n\n\n∆ reported\n\n\n∆ constant\n\n\n∆ LFL\n\n\nAcquisitions\n\n\n2016\n\n\n\n\nFirst quarter\n\n\n3,...