WPP sees strong Q3 performance from GroupM in India & other zones

WPP has posted 0.5% growth in Q3 LFL revenue less pass-through costs with North America at +1.7%, Western Continental Europe +2.2% and UK flat, partially offset by a 2.2% decline in Rest of World, reflecting a continued decline in China (-21.3%).

Its Global Integrated Agencies Q3 LFL revenue less pass-through costs grew 0.5% (Q3 2023: +0.1%). GroupM growth improved sequentially to 4.8% (Q3 2023: +1.6%), offset by a 3.1% decline at integrated creative agencies (Q3 2023: -1.1%).

The agency’s client wins in Q3 included Amazon (media ex Americas), Unilever (media, retail media and activation, and creative) and Henkel (media). Strong start to Q4 with Starbucks (US creative) and Honor (global media including China), WPP said in its financial statement.

Mark Read, Chief Executive Officer of WPP, said: “Our third quarter delivered like-for-like growth in net sales, with a strong performance from GroupM in particular. We saw growth in North America, Western Continental Europe and India, though trading in China remains difficult.

“Most importantly, we returned to form in new business, winning Amazon’s media account outside the Americas and securing our media relationship with Unilever, including taking back the retail media and activation business in the United States. Our success with two of the world’s top ten advertisers demonstrates the renewed competitiveness of our offer. We are also proud to be supporting the new Starbucks leadership team with our recent creative win in the United States.

“Our people are increasingly embedding AI in the way that we work and deliver creative and media campaigns to clients, with usage of WPP Open up 107%6 since the beginning of the year. Supporting this, the creation of VML and Burson, and the simplification of GroupM, are delivering a stronger business and structural cost savings.

“We are encouraged by progress during the quarter, but with recent new business wins primarily impacting 2025 and continuing macroeconomic pressures our expectations for the full year remain unchanged.”