WPP is close to finalising the sale of its businesses in Russia to local management teams, removing an obstacle for the company as it raised its forecasts for sales growth this year.
The world’s largest advertising group on Wednesday beat analyst expectations with first-quarter sales of £3.1bn excluding operations in Russia, up 8 per cent on a like-for-like basis.
Strong demand for its services in ecommerce and data-driven marketing prompted the company to raise full-year guidance for like-for-like net sales growth, from 5 per cent to a range of 5.5-6.5 per cent.
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