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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 Copart as the online vehicle auction company acquires auto marketplace and data services business ACV, a Joele Frank client, in a deal valued at $1.9B.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
