WPP’s revenue from Australia has suddenly gone into reverse.
The UK-based company reports revenue down 4.5% in Australia for the June quarter.
This compared to the March quarter when Australia recorded a positive 2.5%.
WPP offered no commentary on the underlying cause for the local dip.
The world’s largest advertising group reported like-for-like revenue growing 2.3% to £3.76 billion in the June quarter and 3.5% in the half year.
However, the company lowered its full year revenue expectations after its US business also fell 4.5%, impacted by lower spending from technology clients and some delays in technology-related projects.
WPP’s UK business was up 9%.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.