WPP on Thursday released its 2021 preliminary results. The company reported a revenue of 12,801 million pounds in 2021, witnessing a growth of about 6.7 per cent over 2020. “It has been an outstanding year for WPP. Our top-line growth, driven by strong demand for our services in digital marketing, media, ecommerce and technology, has resulted in our fastest organic growth for over 20 years. As a result, we are two years ahead of our plan, hitting our 2023 revenue target in 2021,” Mark Read, CEO, WPP, said. For 2022, the company expects a growth of 5%.
GroupM posted strong growth with revenue growing at 16.1 percent in 2021. According to Read, as clients seek to accelerate their growth and transform how they reach customers, the depth, breadth and global scale of our offer – which combines creativity with technology and data, through Choreograph, and the largest global media platform in GroupM – is proving its value for existing and new clients.
“We have made substantial strategic progress, creating the world’s leading board-level communications firm through the merger of Finsbury Glover Hering and Sard Verbinnen, and acquiring capabilities in AI, commerce and technology services to leverage across all of WPP for future growth. Cash generation continues to be very strong, underpinned by efficiencies achieved in our transformation programme, allowing us to make significant investments in our offer and reward our people for their huge contribution, while returning over £1 billion in cash to shareholders through dividends and share buybacks,” Read added.
For Read, the company is guiding to strong top-line growth, improving profitability and continued investment in its people and services.
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