WPP India revenue in 2021 up by 18.6% (YoY) and 6% over 2019

The Indian business of WPP has reported revenue growth of 18.6% year-on-year in 2021. Coping up with the Covid-19 caused disruption in business, the advertising giant’s strong performance in 2021 took the India revenue up by 6% over 2019, the pre-Covid level. In 2020, WPP India’s revenue had declined by 10.55% (YoY).

In Q1 of 2021, the advertising network’s revenue in India grew only by 0.5% versus 6.1% in Q1 2020. 

Q2 of 2021 was the best performing quarter in the year for WPP’s India business as revenue grew by 30%. Whereas, in Q2 2020, the advertising network had witnessed a decline of 25.1% in India. 

In the third quarter of 2021, WPP India reported a growth of 28% vs Q3 2020, where the company’s revenue did recover from Q2 levels but continued to decline by 16.3%.

WPP’s India office reported a growth of 16.8% in Q4 2021 in comparison to a degrowth of 8.9% in the corresponding quarter of 2020. 

The global advertising group posted a ‘strong growth’ of 12.1% (YoY) in 2021, with revenue (less-pass through costs) amounting to £10.4 billion. 

The growth was boosted by new business wins like Coca-Cola, the strong performance of GroupM, and increased demand for digital and e-commerce and technology services from its clients. The ad giant won new businesses worth $ 8.7 billion. 

WPP announced that it will be paying out a bonus worth £ 592 million ($ 793 million), which is more than double of the pre-pandemic levels – to more than 50,000 staff after what it called an “outstanding” year.

Mark Read, Chief Executive Officer, WPP, said, “It has been an outstanding year for WPP. Our top-line growth, driven by strong demand for our services in digital marketing, media, e-commerce and technology, has resulted in our fastest organic growth for over 20 years. As a result, we are two years ahead of our plan, hitting our 2023 revenue target in 2021.”

He further said, “We have made substantial strategic progress, creating the world’s leading board-level communications firm through the merger of Finsbury Glover Hering and Sard Verbinnen, and acquiring capabilities in AI, commerce and technology services to leverage across all of WPP for future growth. Cash generation continues to be very strong, underpinned by efficiencies achieved in our transformation program, allowing us to make significant investments in our offer and reward our people for their huge contribution while returning over £1 billion in cash to shareholders through dividends and share buybacks.”

Globally, WPP’s UK office was the best performer in 2021 and was up by 15%. North America grew at 9.7%. Western Europe was up 14.5% and Asia Pacific, Latin America, Africa & Middle East and Central & Eastern Europe saw a growth of 12.3%.

Recently, Publicis reported 10% growth, Omnicom 10.2%, Interpublic 11.9% and Dentsu 13% in 2021, recovering from Covid-19 induced challenges. 

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