WPP India revenue grows by 2.8% in 2024 despite Q4 slowdown

WPP India has reported a 2.8% growth in its revenue for the year, meanwhile, there was a 5.4% decline for the December quarter.

According to the media company, the quarter-on-quarter decline was lapping a tough comparison influenced by the timing of sporting events. In the December quarter of the previous year, WPP India revenue saw a growth of 22.0%, led by ICC Cricket World Cup.

According to reports, this is the first quarterly decline reported by the India business of WPP after the Covid-19 pandemic.

Rest of the world

WPP’s full-year revenue reported a decline of 0.7%.

As India grew by 2.8%, the other major markets have seen a decline in overall revenues. The USA declined by 0.6%, UK by 2.7%, Germany by 1%, and China by 20.8%.

However, the media agency said it saw an improved new business performance in the second half of the year with new client wins like Amazon and J&J and retaining Unilever.

Mark Read, Chief Executive Officer of WPP, said, “The actions we are taking across WPP will strengthen our existing client relationships and drive our new business results. We expect some improvement in the performance of our integrated creative agencies in the year ahead. At the same time, we have comprehensive efforts underway to improve our competitive positioning through new leadership at GroupM, with further investment in AI, data and proprietary media."

“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.”