WPP posts $3.1bn profit with Australia amongst growth drivers
The world’s largest marketing communications holding company WPP has posted a $3.1bn profit with Australia and New Zealand one of the biggest growth centres for the group in the fourth quarter.
Profits for the group, which controls assets locally including GroupM, a large investment in the STW Group, a number of PR agencies including Hill + Knowlton and stakes in several creative agencies including JWT and GPY&R, came from revenues of more than $20bn.
The Asia Pacific, Latin America, Africa & Middle East and Central and Eastern Europe regions contributed $6.1bn or 30 per cent of the company’s earnings, bettered only by North America which represented 34 per cent of billings.
This year could see the group, headed by Sir Martin Sorrell, eclipsed as the world’s largest holding company when Publicis and Omnicom complete the merger they started last year.
The company has also reported like-for-like revenues up 5.7 per cent for January ahead of budget forecasts of 3 per cent growth for the year, with the company placing an emphasis on improving “staff costs/revenue ratio” to increase margins and “strategically targeted acquisitions”.
as a marketer, I’d be reading this, thinking….”I just got fucked”!
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as a sales exec, I’m reading this thinking brilliant – the agencies are making some money!
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Profit before people at WPP, as always
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As a marketer you should be asking yourself if you believe you got value out of your agencies services, not whether or not you paid too much.
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