WPP sees gross sales stoop as companies slash their promoting budgets on account of Iran warfare

WPP suffered another slump in sales as it took a hit from client losses and sharper cuts to marketing spending from some firms due to the conflict in the Middle East.

The troubled FTSE 250 advertising giant said revenues dropped by 6.7 per cent to £2.3billion in the first quarter of 2026, led by a 13.1 per cent slide in sales in its largest market, North America, while UK revenues slipped 6.5 per cent.

Shares inched down 0.2 per cent, or 0.6p, to 258.4p yesterday as the decline was less than the 7.8 per cent predicted by analysts.

Boss Cindy Rose – who took over in September – stressed the results were an improvement on the firm’s performance in the final quarter of last year.

Advertising slump: WPP said revenues dropped 6.7% to £2.3bn in the first quarter of 2026, led by a 13.1% slide in sales in its largest market, North America, while UK revenues slipped 6.5%