WPP breaks records with billion pound profit

By Daniel Farey-Jones, campaignlive.co.uk, Thursday, 01 March 2012 08:40AM

WPP's annual pre-tax profits have grown 18.5% to a record £1.01bn while revenues climbed 7.4% to a record £10.02bn.

Sir Martin Sorrell: WPP chief executive

Sir Martin Sorrell: WPP chief executive

The group behind creative agencies including JWT, Ogilvy and Y&R and media networks MediaCom, Mindshare, MEC and Maxus described its new business performance as "outstanding".

It added an estimated £3.23bn in net new billings to take its billings total for 2011 to £44.79bn.

Advertising and media buying outpaced the group's consumer insight, PR and specialist divisions with like-for-like growth of 7.4%.

Ogilvy & Mather Worldwide, JWT, Y&R, Grey and United generated net new business billings of £909m while the media line-up, including GroupM Search, Xaxis and Tenth Avenue, generated £1.59bn.

The company, which is led by chief executive Sir Martin Sorrell, gave an upbeat assessment of prospects for 2012.

It summed up: "Both consumers and corporates are likely to continue to be cautious and fearful, but should continue to purchase or invest in brands in both fast and slow growth markets."

Emerging markets continued to grow faster than the group overall in 2011, rising 12.5% to £2.95bn.

North America grew just 2.7%, due to a stronger dollar, but remains the biggest market with revenues of £3.39bn.

Despite Europe’s economic travails revenues in Western Europe were up 7.7% to £2.51bn.

UK revenues rose 8.8% to £1.18bn and were up 6.7% on a like-for-like basis.

The company took pains to point out that it had added 907 staff in the UK, where its employer social taxes rose 11.6%, both on a like-for-like basis.

Worldwide it boosted headcount by 4.3% over the year to 31 December to 113,615.

This article was first published on campaignlive.co.uk

X

You must log in to use Clip & Save

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Campaign Jobs

  • Consultant Ball & Hoolahan £44,000 per annum, London (Central), London (Greater)
  • Brand Manager Ball & Hoolahan £40,000 per annum, London (Greater)
  • PR Manager Fashion & Retail Personnel Consultancy £35000 - £40000 per annum + benefits, London
  • Head of Ecommerce (8 month maternity contract) Fashion & Retail Personnel Consultancy £50000 - £60000 per annum + bonus and benefits, London
  • Events Manager Fashion & Retail Personnel Consultancy £40000 - £50000 per annum, London