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| Mark Read |
WPP reported a 6.7 percent rise in 2022 like-for-like revenues to $17.3B as clients continued to invest in communications, customer experience, commerce, data and technology.
CEO Mark Read said WPP entered 2023 in a strong financial position with good momentum from its business wins, which include Audible, Danone, Migros, SC Johnson, Nationwide and Verizon.
He sees many opportunities despite some macroeconomic challenges.
Read said the “continued need for major companies to build brands, sell products, reinvent and transform their business, understand their data, invest in technology and exploit the potential of AI remains, as does their need for modern partners who can help them navigate this new world,”
WPPs PR units BCW Global, Hill+Knowlton Strategies and FGS Global posted 8.2 percent growth for the year.
Read told O'Dwyers that PR, PA and strategic communications continue to increase in importance for brands and organisations.
"We’ve seen consistently strong demand for our talented people and leading services in this sector, which is reflected in the impressive growth of our agencies over the past year," he said. Both H&K and BCW had a strong year, as did the newly created FGS Global."
He also noted the "performance of FGS Global in the MergerMarket league tables where it led the M&A tables by some distance globally, and in the key regions."
FGS Global represents private equity firm Thoma Bravo as it makes a $4.6B bid for Darktrace, a UK-based cybersecurity artificial intelligence firm.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
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