A report released this Thursday (22) also showed an increase of 1.3% in the group’s branch network
WPP released its report for 2023 and recorded an increase of 2.9% compared to 2022, reaching R$17.2 billion euros.
With this value, the company continues to lead the ranking of communication groups, followed by Publicis Group, which ended 2023 with revenue of 15 billion euros. The comparison considers the conversion of values into euros.
“While 2023 was more challenging than we expected due to technology customer spending cuts, we delivered resilient performance for the year. This was driven by disciplined cost control, while continuing to invest in AI, data and technology,” said Mark Read, CEO of WPP.
Still about 2023, the group also recorded a 1.3% increase in its agency network, with the exception of GroupM which, alone, grew 4.9% in the period.
In relation to WPP’s new businesses, including the creation of VML in 2023 and the merger of Hill & Knowlton and BCW that resulted in Burson in early 2024, the group increased its revenue by 4.5 billion dollars.
“New business revenue was $4.5 billion in 2023 and included key assignments at clients such as Allianz, Krispy Kreme, Mondelz, Nestl, PayPal and Verizon and reflects stronger year-over-year performance in the fourth quarter,” he added. Read.
Finally, WPP also announced that its operating profit was within the 15% previously forecast.
