WPP, the largest communications services provider, has reported a rise in its full year revenues by 7.4% to £10.022 billion and pre-tax profit of £1.00 billion for the first time. Billing rose by 4.9% at £44.792 billion. With a rise in operating margins of 14.3% WPP has declared a dividend of 24.60 pence share, up over 38% from the previous year.
The group saw a robust growth in all regions and business sectors, characterised by particularly strong growth geographically in Asia Pacific and Latin America and functionally in advertising, media, investment, management and direct, digital and interactive. Its trading in Januray 2012 is in line with the budget and posted a growth of 4% in like-for-like revenue and gross margin.
In 2011 the group achieved record performance in difficult circumstances, particularly in the second half of the year. The group expects 2012 to be similar and hopes to benefit again.
WPP's prime focus in 2012 will remain on growing revenues and gross margins faster than the industry average, driven by its leading position in the new markets. In the future, its business is, geogrphically and functionally, well positioned to compete successfully and to deliver on its long-term targets: Improvement in operating margins and annual PBIT growth of 10% to 15% p.a. delivered through revenue growth, margin expansion and acquisitions.