1348 GMT - WPP looks set to report a weak first-quarter performance, dragged by its creative and public-relations agencies, UBS analysts say in a research note. The U.K. advertising group is expected to post a 2.5% decline in like-for-like revenue less pass-through costs, a closely watched metric, for the first quarter, UBS estimates. "Creative agencies are likely to remain under pressure due to the continued impact of the Pfizer loss, declines in China, and continued weakness in AKQA," the analysts say. PR agencies remain a drag on the group's top line, UBS says. Meanwhile, WPP's GroupM media-buying business is expected to post a 2.4% rise in organic growth, according to UBS. Shares are down 4.5% at 494.90 pence. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 09:48 ET (13:48 GMT)
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