WPP, the largest advertising agency in the world, announced that it is raising its sales guidance for the full year despite a slight decline in its revenue for the first quarter ended March 2010. The advertisement company said that the figures from its US business gave it the confidence to expect a full year revenue growth of 2% in the current fiscal. WPP was earlier expecting same revenue for the year.

WPP, owner of Ogilvy & Mather Worldwide and the Hill & Knowlton public relations firm, said that total revenue was reported of £2.078 billion in the first three months of the year, decreasing by 2% comparing to the same period last year. The like for like sales were reported flat in the first quarter compared to the previous corresponding period.

However, the sales in North America region were reported up by 3.2% in the first quarter compared to first quarter of last fiscal. The North America region accounts for more than a third of the total revenue of WPP.

WPP also said that it is raising its full year revenue growth forecast to 2% from a previous prediction of flat sales. The company said it expects its clients would regain confidence in the wider economy. WPP said it is confident enough that the first half will be much better than the first half of 2009 for profit and margins.