Sir Martin Sorrell, chief executive of WPP, said that the weakest performance came in North America, where it lost significant clients and suffered from lower spending by others NEIL HALL/PAWPP, the global advertising group, has again cut its outlook for the year, blaming an industry slowdown as cost pressures force consumer goods groups to cut back on advertising. Sir Martin Sorrell, the chief executive, said that the third-quarter figures indicated that like-for-like revenues, the company’s preferred measure of performance, would come in “broadly flat” for the year. The figures show a 2 per cent fall in like-for-like revenues, which is below expectations, and a 0.4 per cent fall when currency movements, in particular the decline in the pound against the dollar, are taken into account. The vast majority of WPP’s revenues are from outside the UK. Sir Martin said: “We are now lapping the impact of the weakness in the pound sterling following the…

Source: The Times October 31, 2017 09:00 UTC