We're seeing a good performance in India, up 7.1% in Q3 versus 2019: WPP CFO John Rogers
On a YoY basis, the company's India business grew by an impressive 28% on a lower base due to 16.3% de-growth during the same quarter last year
Advertising behemoth WPP has said that its India business has expanded by 7.1% in Q3 2021 compared to Q3 2019. On a YoY basis, the company's India business grew by an impressive 28% on a lower base due to 16.3% de-growth during the same quarter last year, the company revealed in its Q3 earnings presentation.
“Coming on now to our other major markets and our focus here on the performance versus 2019. We're seeing good performance in India, up 7.1% in the quarter versus 2019,” WPP CFO John Rogers told analysts.
The revenue less pass-through costs for the third quarter, up 15.7% on a like-for-like basis. The revenue grew by 6.9% versus 2019. Its global integrated agencies grew 13.5%, down slightly from the 19.2% seen in Q2. However, on a two-year basis, the business is up 5.9% versus 2019.
Rogers noted that GroupM's performance was particularly strong, besides continued double-digit like-for-like growth at Hogarth and VMLY&R. “And AKQA Group, Ogilvy, Wunderman Thompson all showing an improving two-year trend compared to the second quarter of this year. So turning now to public relations continues to be high demand for strategic comms. Again, growth in the third quarter of 16%, an increase actually on the second quarter of 12.9% and, again, on a two-year basis 12.6% versus 2019 in the third quarter compared to 4.4% in the second quarter.”
He also said that WPP's PR agency business is also driving strong growth while adding that the specialist agencies is the best performing segment for the group. “So again, demonstrating strong momentum, building through the year, especially with PR agencies such as FGH, continue to be the strongest performers. We're also seeing accelerating growth at both BCW and Hill+Knowlton, and showing strong strategic progress with the merger of FGH and SVC. Coming now to the specialist agencies, which is the best-performing sector within our business. We saw very strong growth in Q3 of 41.5%, up from the 27.8% we saw in the second quarter and, again, on a two-year basis, seeing that momentum build.”
WPP CEO Mark Read highlighted the work done by its India team for Cadbury in India. He further stated that the Cadbury India's Diwali campaign with Shah Rukh Khan is a good example of data-driven marketing.
“And the last piece that I wanted to highlight takes in a somewhat different direction, some work from Mondelez for Cadbury in India, building on a successful campaign for Diwali. Last year, they used a combination of data and AI, combined with Shah Rukh Khan, a famous Indian, 27 million followers on Instagram, to launch a campaign that allowed the local retailers to promote themselves after the pandemic. It's a good example of data-driven marketing look. What we show is product innovation, purpose, data-driven marketing, three of the key themes we see from our clients at the moment,” Read said.
