WPP has declared its 2022 Interim Results. As per the results, WPP noticed a strong first half with broad-based expansion and maintained demand from clients. The company recorded H1 revenue at £ 6,755 million with 10.2% growth. Operating profit stood at £ 539 million, and PAT was noted at £ 419 million.
Mark Read, Chief Executive Officer of WPP, announced, “We have admired a strong first half, with broad-based expansion across our creative, media and public relations businesses. This indicates the improved competitive posture of our creative businesses, with their thriving abilities in commerce, experience and technology, our constant strength in media and the revitalization of the need for strategic communications guidance from our public relations agencies.
Capitalizing for growth, improving our data capabilities through Choreograph and the launch of Every mile, a direct-to-consumer eCommerce invitation. Focused M&A: accession of Village Marketing to accelerate creator economy growth and Bower House Digital, a prominent marketing technology agency. Further simplification to improve the offer to clients, the innovation of EssenceMediacom and Design Bridge and Partners. The transformation program is on the path to delivering an anticipated £300 million of annual savings this year over a 2019 base.
“Our assistance is business-critical – driving expansion, establishing brands, innovating and assisting clients to navigate an increasingly complex marketing environment. As main advertisers increasingly look to integrate their marketing investments, we are well placed to assist the world’s largest companies, as indicated by our success with Coca-Cola, which we are now onboarding at pace. The second quarter saw crucial assignment victories from Audi, Audible, Danone and Nationwide.
“Our commitment to art was recognised at Cannes Lions in June where WPP was awarded the most creative company, recognising the integrity of our work in all areas, spanning film, digital, media, commerce and creative business conversion. It’s a testament to our investment in art and the skill of our people, and I am determined to make WPP the most creative company in the world.
“Our clients are proceeding to invest in WPP’s services, which indicates our impressive industry exposure in technology and healthcare, our broad global footprint, and the significance of what we do for their businesses. The efforts we have taken over the last four years leave WPP much reasonably positioned with a more unstable economic environment ahead,” Read said.