WPP Records Strong Growth of 15.7% in Third-Quarter Results
WPP recorded a 15.7 percent growth in Q3 revenues (less pass-through costs) to $3.6B as clients across-the-board hiked investments in marketing, especially digital media and ecommerce services.
He noted that WPP posted 6.9 percent over the comparable 2019 pre-pandemic period and is now well-positioned for growth due to the restructuring actions that were put into place over the past three years.
Germany, which was up 34.5 percent, ranked as the No. 1 growth market during the period. Greater China (18 percent), UK (16.9 percent), US (12.4 percent) and Australia (2.4 percent) were next.
WPP’s PR group registered 16 percent growth during the quarter to $319M. It was up 10.3 percent to $911M for the nine-month period.
“We are very pleased with the performance of both BCW and H&K as well as Finsbury Glover Hering, which have all had an outstanding year,” Read told O’Dwyers.
He noted “the demand for strategic communications expertise is greater than ever, as clients seek to capture the opportunities of a changed world and navigate its complexities.”
The PR unit “delivered very strong growth and are showing great momentum into 2022,” according to Read.
In October, WPP announced the merger of FGH with Sard Verbinnen & Co to create a $330M government affairs, corporate reputation, crisis management and financial communications juggernaut.