• WPP’s Q1 2023 trading update shows an 11.9% increase in revenue and a 4.9% increase in like-for-like (LFL) revenue compared to the previous year, with LFL revenue less pass-through costs growing by 2.9%, indicating continued momentum in the company’s business operations.

• WPP has reported strong financial results for the fiscal year ending December 31, 2022, with reported revenue increasing by 12.7% compared to the previous year, and like-for-like (LFL) revenue growing by 6.7%, demonstrating the company’s ability to maintain strong financial performance over a more extended period.

• WPP has made strategic acquisitions, including Obviously and Goat, to invest in influencer marketing expertise, and has acquired 3K Communication, a healthcare PR agency in Germany, demonstrating the company’s commitment to expanding its capabilities and expertise in various areas of advertising and marketing.

WPP, the global advertising and marketing services company, recently released its First Quarter Trading Update, showcasing strong financial and business results for the first quarter of 2023. The report revealed an 11.9% increase in revenue and a 4.9% increase in like-for-like (LFL) revenue compared to last year. Additionally, the report revealed that LFL revenue, less pass-through costs grew by 2.9%, demonstrating continued momentum in the company’s business operations.

One notable highlight of the report is the company’s success in winning new business, with a net new business of $1.5 billion. This includes fantastic clients like Adobe, Ford, Maruti Suzuki, Mondelēz, and Swissport. WPP’s success in securing new clients is a testament to the company’s continued focus on delivering high-quality, effective advertising and marketing services to its clients.
Another significant achievement highlighted in the report is WPP’s topping all three WARC rankings: Creative 100, Effective 100, and Media 100, for 2023. WARC is an organization that tracks and ranks the world’s most effective advertising campaigns, and being at the top of all three rankings is a remarkable accomplishment for WPP.
Furthermore, WPP has made strategic acquisitions in the first quarter, including Obviously and Goat, allowing the company to invest in influencer marketing expertise. WPP has also acquired 3K Communication, a healthcare PR agency in Germany. These acquisitions demonstrate WPP’s commitment to expanding its capabilities and expertise in various areas of advertising and marketing.
WPP has also announced that KKR will take a minority investment in FGS Global at a valuation of $1.425 billion. This investment is expected to provide WPP with further opportunities for growth and expansion.

Looking ahead, WPP has reaffirmed its 2023 guidance, with LFL revenue less pass-through costs growth expected to be between 3-5%, with a headline operating margin of around 15% (excluding the impact of FX). These figures demonstrate WPP’s confidence in its ability to maintain strong financial and business performance in the coming years.

WPP’s First Quarter Trading Update highlights the company’s strong financial and business results, with significant achievements in new business wins, industry rankings, and strategic acquisitions. WPP’s success in these areas is a testament to the company’s commitment to delivering high-quality, effective advertising and marketing services to its clients and its focus on growth and expansion.

A good track record

In addition to WPP’s recent First Quarter Trading Update, the company also reported strong financial results for the fiscal year ending December 31, 2022. According to the company’s annual report, WPP’s reported revenue increased by 12.7% compared to the previous year, while like-for-like (LFL) revenue grew by 6.7%. These figures demonstrate WPP’s ability to maintain strong financial performance over a more extended period, indicating that the company is well-positioned for continued success in the future.