WPP net sales return to growth as clients spend for the recovery

WPP, the world's biggest advertising company, said its underlying net sales had returned to growth ahead of target after clients started to spend to prepare for the global economic recovery.

The group, which posted an 8.2% drop in underlying net sales in 2020, said the key figure had risen by 3.1% in the first three months of the year as clients "seek to transform their offer for future growth".

The British company, which had said it expected to return to growth in the second quarter, also won $1.3 billion of new work from companies such as Absolut and JP Morgan Chase, and reiterated its outlook for the year.