India continues to be one of the top two major markets registering high growth for the last four quarters for the holding company WPP.
According to the results announced by the advertising giant for January-March quarter, India has posted 25.1% growth. WPP’s India business grew 30%, 28% and 16.8% in the preceding three quarters.
Brazil was the only major market posting higher growth than India for WPP at 28.5%.
Globally, the holding company posted 6.7% of YoY growth in Jan-Mar quarter. The total revenue of WPP stood at $3.88bn.
Mark Read, Chief Executive Officer of WPP, said, “The year has started very well with continued momentum from 2021 resulting in strong growth across all businesses and regions. Demand is strong for our services, particularly in digital media, ecommerce, data and marketing technology.
“The war in Ukraine has created an appalling humanitarian crisis. We continue to support our people in Ukraine, many of whom are now displaced, with financial and practical assistance. Our partnership with the UNHCR on their emergency fundraising appeal has generated $150 million to date, including over $1.3 million from our employee match-funding programme. On 4 March, we announced that we would exit the Russian market, and we have now reached agreement to divest our businesses there.
“We continue to see strong demand for our services from our clients and to invest in the many opportunities for growth driven by the digital transition, including Choreograph and the recent launch of Everymile. As a result of a strong first quarter, we now expect our growth to be in the range of 5.5% to 6.5%, up from around 5% at the start of the year. We remain very mindful of the impact of the broader macroeconomic environment on our business and will respond quickly to any changes as the year progresses.”