WPP Reports Solid Growth for 2016 but Predicts Slower 2017
Posted in: UncategorizedWPP’s fourth-quarter earnings were slow, but CEO Martin Sorrell presented a more positive picture for the full-year 2016 — despite continued reference to price pressures.
Like-for-like revenues (excluding acquisitions) were up 0.5% in the fourth quarter, compared with 3.6% at rival Omnicom and 5.3% at Interpublic.
Across the year, however, WPP’s like-for-like revenues were up 3%, with overall revenues up 3.7% at $19.4 billion. Profits before tax were up 7.2% to $1.8 billion, stripping out the effects of exchange rate fluctuations.