Britain's WPP Group said today its first-quarter revenues rose by more than 16 per cent as clients boosted their marketing budgets.
The world's second-largest advertising company said organic revenues, which exclude currency fluctuations and acquisitions, rose by nearly 6 per cent for the three months to March 31st in the first quarter.
Revenues were £1.11 billion, from £960.3 million a year earlier.
Operating margins and profitability were above budget in the quarter, and the company said it was on track to meet its full-year margin target of 14.3 per cent.
On a constant currency basis, North America revenues were up more than 16 per cent, the United Kingdom was up 12 per cent, and continental Europe up more than 15 per cent.
Asia Pacific, Latin America, Africa and the Middle East were up 22 per cent. WPP Chief Executive Martin Sorrell has made it a priority to expand in fast-growing markets such as Asia and Russia.
WPP also purchased New York-based Grey Global last year, taking it within a hair's breadth of top advertising group Omnicom.