WPP – Media Giant Has A Welcome Growth Spurt
WPP PLC (LON:WPP)’s set revenue (which excludes fees WPP pays to other businesses as part of projects) rose 11.0% on a like-for-like basis, to £4.9bn. Operating profit, excluding restructuring and Covid-related costs, was 54.5% higher than 2020 at £590m. Q2 2021 hedge fund letters, conferences and more WPP said the market recovery has been much faster than expected, and full year guidance has been raised. Net revenue is now expected to rise 9%-10%, up from mid-single digits. The group expects to return to 2019 levels a year ahead of plan. FY2021 operating margins should be at the top end of th...