BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - WPP Group PLC (WPP.L, WPPGY) reported that its third quarter like-for-like revenue less pass-through costs were up 15.7% year-on-year. As a result of continued strong business momentum, the Group further increased its guidance for 2021.
Third quarter revenue was 3.24 billion pounds, up 9.1% from prior year. LFL revenue growth was 14.7%. Revenue less pass-through costs was 2.64 billion pounds, an increase of 15.7% on like-for-like basis.
For 2021, the company now expects like-for-like revenue less pass-through costs growth of 11.5-12.0%, revised from prior guidance range of 9-10% growth. Headline operating margin is now estimated to be slightly above 14%, revised from prior guidance range of towards the upper end of the range of 13.5-14.0%.
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