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WPP Plc Q1 LFL Revenue Down 1.3%; 2019 Guidance Unchanged - Quick Facts

WPP plc (WPP.L,WPPGY) reported that its first-quarter revenue was 3.59 billion pounds, up 0.9% compared with the same period last year on a reported basis and down 0.6% on a constant currency basis. Like-for-like revenue was down 1.3% compared with last year.

For the first-quarter, revenue less pass-through costs were 2.93 billion pounds, down 0.7% on a reported basis, down 2.3% in constant currency and down 2.8% like-for-like.

Mark Read, CEO, WPP said: "We continue to make good progress in implementing our three-year strategy to return WPP to sustainable growth. As anticipated, our first quarter trading update reflects the impact of certain significant client losses in 2018, in particular in the United States."

For 2019, the Group continues to project like-for-like revenue less pass-through costs down 1.5% to 2.0%, with stronger headwinds in the first half.

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