According to company data, the group had revenue of US$1.5 billion in the period
WPP presented data for the third quarter of 2024. According to the document, the group had revenue of US$1.5 billion compared to US$1.4 billion in the third half of 2023.
“Our third quarter delivered comparable growth in net sales, with a strong performance from GroupM in particular. We saw growth in North America, Western Continental Europe and India, although trading in China remains difficult,” says Mark Read, CEO of the group.
‘Like for like’ revenue from global integrated agencies in Q3 minus on-lending costs grew 0.5% (+0.1% in Q3 2023). GroupM growth improved sequentially to 4.8% (+1.6% in Q3 2023), offset by a 3.1% decline in integrated creative agencies (-1.1% in Q3 2023).
The top ten customers grew 7.0% in the third quarter. The consumer packaged goods, automotive, travel and leisure, and financial services customer sectors grew well in the quarter. Technology customer sector stabilizing, with growth of 1.3% in Q3 vs -5.1% in H1 2024. Healthcare and retail sectors continued to be impacted by customer losses in 2023.
Customer wins in the third quarter included Amazon (media outside the Americas), Unilever (media, retail media and activation and creative) and Henkel (media). Indicating a strong start to the fourth quarter with Starbucks (US creative) and Honor (global media, including China).
“We are back to developing new business, winning Amazon’s media account outside of the Americas and securing our media relationship with Unilever, including restarting the retail and activation media business in the United States. Our success with two of the top ten advertisers around the world demonstrates the renewed competitiveness of our offering. We are also proud to support Starbucks’ new leadership team with our recent creative win in the United States.”
Also according to the document, the deal to sell WPP’s majority stake in FGS Global is on track to close in the fourth quarter, generating net cash proceeds for WPP of around £604 million before tax.
“We are encouraged by the progress during the quarter, but with recent new business gains primarily impacting 2025 and continued macroeconomic pressures, our full-year expectations remain unchanged,” concludes Read.
