WPP WPP PLC

By Ian Walker

LONDON--Advertising giant WPP PLC (WPP.LN) Wednesday reported an 11% rise in revenue in the first four months of 2016, but said 2016 looks to be another demanding year.

For the four months to the end of April WPP, which competes with companies including Publicis Groupe SA and Omnicom Group Inc., said reported revenue rose 11% to 4.18 billion pounds ($6.09 billion).

The world's largest advertising agency said comparable net sales--a closely tracked revenue measure which strips out costs linked to acquiring digital media space and currency swings, acquisitions and disposals--for the period rose 3.1% in sterling terms.

At the time of its first quarter trading update on April 29, the world's largest advertising agency said it was in the process of reviewing its forecasts. It said back then that, based on early indications, it was ahead of targets to post like-for-like revenue growth of well over 3% and net sales growth of over 3%, with a stronger second half to come. No further information has been given.

The figures were given as the company met with shareholders at its annual general meeting where they will be asked to vote on a number of resolutions, including the controversial compensation package.

According to the company's annual report posted in April Martin Sorrell was once again the highest-paid chief executive in the advertising industry last year, receiving 70.4 million pounds in compensation.

The bulk of Mr. Sorrell's 2015 compensation came from a hefty long-term incentive stock award valued at GBP62.8 million, according to the ad holding company's annual report. He received a base salary of GBP1.15 million and a short-term stock incentive worth GBP4.3 million, in addition to pension contributions and other benefits. In comparison, Mr. Sorrell was awarded total compensation of GBP42.7 million in 2014.

--Nick Kostov and Nathalie Tadena contributed to this article

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

June 08, 2016 07:40 ET (11:40 GMT)

WPP (NYSE:WPP)
Historical Stock Chart
From Oct 2024 to Nov 2024

WPP (NYSE:WPP)
Historical Stock Chart
From Nov 2023 to Nov 2024