WPP Group releases preliminary global results for 2013 - revenues up 6.2% at over £11 billion

Sir-Martin-Sorrell.jpgWPP Group - the global holding company of agency networks including JWT, Ogilvy, Y&R and Grey and led by CEO Sir Martin Sorrell - has released its preliminary results for 2013.

The Highlights:
- Billings up 4.1% at over £46 billion
- Revenues up 6.2% at over £11 billion
- Like-for-like revenue up 3.5%, with second half up 4.6%
- Operating margin at historical high of 15.1%, up 0.3 margin points, up 0.5 margin points in constant currency and 0.6 margin points like-for-like
- Gross margin or net sales margin at historical high of 16.5%, up 0.4 margin points
- Impact of exchange rates in second half reduced reported margin
- Headline profit before interest and tax £1.662 billion, up over 8%
- Headline profit before tax £1.458 billion, up almost 11%
- Profit before tax £1.296 billion, up almost 19%
- Headline diluted earnings per share of 80.8p, up over 10%
- Dividends per share of 34.21p, up 20%, and pay-out ratio of 42% versus 39% last year, with a targeted dividend pay-out ratio of 45% in 2014
- Share buy-back target raised to 2-3% of share capital against current 1%
- Strategic targets raised for each of faster growth markets and new media sectors to 40-45% of revenues from 35-40% over the next five years
- Constant currency net debt at 31 December 2013 down £634 million on same date in 2012, with average net debt in 2013 down £244 million over 2012
- Good start to 2014 with January like-for-like revenues up 5.7% and gross margin or net sales up 4.1% .

1 Comments

Figures said:

I bet salaries are up by less then revenue. At below the senior exec level anyway.

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