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Britain's WPP thumps first-half net sales forecasts

Reuters - UK Focus
Sir Martin Sorrell, Chairman and Chief Executive Officer of WPP, the world's largest advertising company, attends an interview with Reuters during the Cannes Lions Festival in Cannes, France, June 24, 2016. REUTERS/Eric Gaillard/File Photo (REUTERS)

LONDON, Aug 24 (Reuters) - WPP (Frankfurt: A1J2BZ - news) , the world's largest advertising group, reported a better-than-expected 3.8 percent jump in first-half net sales and nudged its revenue forecast higher on strong demand across the board for its services.

The group, run by the high-profile businessman Martin Sorrell, said it now expected full-year revenue growth to be "well over" 3 percent, compared with a previous forecast of "over" 3 percent.

Analysts had expected first-half net sales growth to come in around 3.2 to 3.3 percent.

WPP also said it would step up its drive to increase sales in its fast growing markets and new media divisions, particularly following Britain's vote to leave the European Union (KSE: 000910.KS - news) . (Reporting by Kate Holton, Editing by Paul Sandle)