With 3.4 billion pounds sterling, the group declined 1.4% at the beginning of the year, driven by technological spending and the loss of the Pfizer account
WPP presented data for the third quarter of 2024 to the market. According to the document, the group had revenue of 3.4 billion pounds sterling, representing a drop of 1.4% compared to the first quarter of 2023.
Even so, WPP continues to lead the market, followed by Publicis, which started the year with revenue of 2.7 billion pounds sterling (3.23 billion euros, in conversion).
According to the numbers, while GroupM saw 2.4% growth, the integrated branch network saw a 0.7% decline globally.
Despite the falls, Mark Read, CEO of the group, pointed out that the numbers were within expectations for the year. “The first quarter of 2024 is very much in line with our expectations,” said the executive.
Regarding new business, WPP won the accounts of AstraZeneca, Canon, Molson Coors, Daiichi Sankyo, Nestlé, Perfetti, Perrigo, Rightmove and Telefónica. Despite this, the scenario indicated a 1.6% drop in organic revenue, driven by the loss of Pfizer and clients working in the technology area.
The negative impact on the accounts was also influenced by the integration of the public relations agencies, BCW and Hill & Knowlton, which together will form Burson from July this year.
“The results confirm the expectations forecast for the year. We continue to seek the return of growth to balance results, supported by new businesses and the strength of creativity and media, both accelerated by new AI capabilities”, added the executive.
North America continues to drive the group’s business, followed by the United Kingdom and Europe.
