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WPP REPORTS FIRST-QUARTER REVENUE DOWN 2%

Net New Billings Said to Be $750 Million for Period

By Published on .

NEW YORK (AdAge.com) -- WPP Group on Monday reported first-quarter revenue declined more than 2% compared with the year-earlier period, and excluding acquisitions and currency fluctuations, revenues fell by almost 9% vs. first quarter 2001.

The best-performing communications services sector for the quarter was information and consultancy, which is up more than 6% from last year's first quarter. Advertising and media investment was flat; public relations and public affairs down 13%; and branding and identity, health care and specialist communications down 2%.

Net new business billings for first-quarter 2002 were $750 million, more than double the $365 million won in the same period last year.

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