WPP Sales Slow in North America Amid Declining Tech Ad Spend
- Revenue in the US declined 4.5% in the fourth quarter
- British group is restructuring its agencies to cut costs
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Advertising giant WPP Plc said sales in the US continued to slow last quarter, as the British group is restructuring its agencies to cut costs in the face of sluggish ad spending.
Revenue declined 4.5% in the US in the fourth quarter, primarily due to lower spending by technology, healthcare and retail clients, WPP said in a statement on Thursday. The group saw strong growth in the UK and India, partially offset by declines in Germany and China.