LONDON, Feb 27 (Reuters) - British ad group WPP ( WPP )
reported a worse-than-expected 1.0% decline in full-year organic
revenue after a disappointing final quarter, when it said it was
hit by weaker client discretionary spend in its home market,
North America and China.
Headline operating profit rose 2.0% on a like-for-like basis
to 1.71 billion pounds ($2.17 billion), it said on Thursday,
meeting market expectations.
The results confirmed the company, which lost its crown as
the most biggest ad group to French rival Publicis in
2024, has fallen behind some of its peers, which include U.S.
rivals Omnicom ( OMC ) and Interpublic, which have
agreed a $13.25 billion all-share merger.
Analysts had expected WPP ( WPP ) to report organic growth of
-0.4%.
For its guidance for 2025, it said it expected organic
revenue to come in between flat and down 2%, with performance
improving in the second half.
"Though we remain cautious given the overall macro
environment, we are confident in our medium-term targets and
believe our focus on innovation, a simpler client-facing offer
and operational excellence will support our growth and deliver
greater value for our shareholders," Chief Executive Mark Read
said.
($1 = 0.7898 pounds)