Timing will be all in issues financial and WPP may be regretting that its first half and Q2 2022 outcomes coincide with dire warnings from the Financial institution of England about looming recession and 13% inflation with a 0.5% rate of interest rise. Making its base, the UK, appear to be an financial basket case.
BoE governor Andrew Bailey (certainly not lengthy for Threadneedle Road) has extra on his plate than WPP CEO Mark Learn clearly, who reported “sturdy first half: broad-based development, sustained demand from shoppers, transformation programme on monitor. 2022 development steering upgraded once more (to between 6-7%.).”
Truly WPP’s numbers had been extra strong than spectacular, with half 12 months natural income development (on WPP’s pretty conservative measure) of 8.9% with Q2 up 8.3% (US 10.4%, UK 6.2%, Germany 11.5%, China 6.1%, Australia 3.2%.)
CEO Learn says: “We have now loved a powerful first half, with broad-based development throughout our inventive, media and public relations companies. This displays the improved aggressive place of our inventive companies, with their rising capabilities in commerce, expertise and know-how, our continued power in media and the resurgence in demand for strategic communications recommendation from our public relations businesses.
“Our companies are business-critical – driving development, constructing manufacturers, innovating and serving to shoppers navigate an more and more advanced advertising and marketing setting. As main advertisers more and more look to combine their advertising and marketing investments, we’re properly positioned to serve the world’s largest firms, demonstrated by our success with Coca-Cola, which we at the moment are onboarding at tempo. The second quarter noticed important task wins from Audi, Audible, Danone and Nationwide.
“Our dedication to creativity was recognised at Cannes Lions in June the place WPP was awarded essentially the most inventive firm, recognising the standard of our work in all areas, spanning movie, digital, media, commerce and inventive enterprise transformation. It’s a testomony to our funding in creativity and the expertise of our folks, and I’m dedicated to creating WPP essentially the most inventive firm on the planet.
“Our shoppers are persevering with to spend money on WPP’s companies, which displays our engaging business publicity in know-how and healthcare, our broad international footprint, and the significance of what we do for his or her companies. The actions we’ve got taken during the last 4 years depart WPP significantly better positioned with a extra unsure financial setting forward.”
