WPP reports first-quarter decline

WPP reported first-quarter revenue of £3.03 billion, down 6.6 percent year-on-year on a reported basis and 4.0 percent on a like-for-like basis, in line with expectations outlined earlier this year.

Revenue less pass-through costs reached £2.26 billion, declining 6.7 percent on a like-for-like basis. The company stated that performance aligns with guidance issued alongside its preliminary results in February.

Outlook maintained amid market uncertainty

WPP reiterated its full-year outlook, forecasting a mid- to high-single-digit decline in like-for-like revenue less pass-through costs in the first half of 2026, followed by an improving trajectory in the second half. The company expects headline operating profit margin to remain between 12 percent and 13 percent.

The group noted continued uncertainty in the near term, particularly linked to geopolitical developments in the Middle East, which may influence market conditions.

Cindy Rose, chief executive officer, WPP: "Building a simpler, integrated WPP – powered by WPP Open – is resonating with clients and driving strong new business. While it is only a few months since we unveiled our Elevate28 strategy, I am encouraged by this momentum which validates the ‘Stabilisation’ phase of the plan and our path to growth. Consistent organic growth remains our North Star. While it will take time to outpace historical losses, our Q1 results are in line with expectations and ahead of Q4 2025. I would like to thank our clients and partners for their trust, our shareholders for their continued support and our people for their unwavering commitment as we execute our plan."

Focus on integration and growth strategy

The company continues to prioritise its Elevate28 strategy, which centres on simplifying operations and integrating capabilities through its WPP Open platform. The initiative is intended to support client demand for more connected services while positioning the group for long-term growth.

WPP indicated that early progress in the strategy’s stabilisation phase is contributing to new business momentum, although it acknowledged that sustained organic growth will take time to achieve.

www.wpp.com

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