WPP H1 2022 results reveal strong client demand, broad-based growth
Multinational advertising company WPP has released a strong half year result with broad-based growth across its creative, media and public relations businesses as well as sustained demand from clients.
The H1 result revealed 8.9% revenue growth, organic growth of 12.5% to $6.7 million (5.5 million pounds) and a pre-tax profit increase of 12% to $682 million.
Commenting on the results, Mark Read, Chief Executive Officer of WPP, said: “This reflects the improved competitive position of our creative businesses, with their growing capabilities in commerce, experience and technology, our continued strength in media and the resurgence in demand for strategic communications advice from our public relations agencies.”
For the second year running, WPP was awarded most creative company at Cannes Lions earlier in June for the quality of its work in all areas, spanning film, digital, media, commerce and creative business transformation.
Read continued: “It’s a testament to our investment in creativity and the talent of our people, and I am committed to making WPP the most creative company in the world. Our clients are continuing to invest in WPP’s services, which reflects our attractive industry exposure in technology and healthcare, our broad global footprint, and the importance of what we do for their businesses. The actions we have taken over the last four years leave WPP much better positioned with a more uncertain economic environment ahead.”
The interim results also showed strong client demand across most segments and regions, and transformation programme on track to deliver expected £300 million of annual savings this year over a 2019 base
£637 million share buybacks in H1, total of £800 million to be completed in 2022; 15.0p 2022 interim dividend declared, +20%; Full year 2022 LFL revenue less pass-through costs growth now expected to be 6.0-7.0%; headline operating profit margin up around 50 bps.
RECOMMENDED ARTICLES
Comment
No comments found.