Corrections & Amplifications This headline was corrected at 0746 GMT. The original version missatated the pretax profit as GBP1.60B. Corrections & Amplifications
This headline was corrected at 0746 GMT. The original version missatated the operating profit as GBP1.74B. By Kyle Morris WPP PLC said Thursday that pretax profit and revenue rose in 2022 after strong performance across its major agencies. The London-based advertising group said pretax profit was 1.16 billion pounds ($1.40 billion) compared with GBP950.8 million in 2021. Revenue for the year rose to GBP14.43 billion from GBP12.80 billion, it said. Revenue less pass-through costs was GBP11.80 billion compared with GBP10.40 billion a year earlier. The owner of creative agencies VMLY&R and Wunderman Thompson and ad-buying conglomerate GroupM is targeting 2023 like-for-like growth in revenue less pass-through costs of 3%-5% and a headline margin of around 15%. WPP declared a final dividend of 24.4 pence, bringing the total dividend for 2022 to 39.4 pence, in line with policy. “WPP delivered strong growth in 2022, despite the macro challenges, reflecting the priority placed by our clients on investing in communications, customer experience, commerce, data and technology,” Chief Executive Mark Read said. Write to Kyle Morris at kyle.morris@dowjones.com
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