- 26 per cent dividend hike
- Operating profit up by 11 per cent
Investors have been fretting about an advertising slowdown for some time. However, WPP (WPP) has reassured its shareholders that the industry has “demonstrated great resilience as brands continue to invest in marketing despite turbulence in the global economy”.
Its full-year results attest to this. Revenue is up by 13 per cent at £14.4bn, underpinned by strong organic growth, and operating profit has increased by 11 per cent to £1.36bn. The fact that all three of WPP’s divisions – as opposed to just its tech operations – performed well is also reassuring. Indeed, its core media business managed to grow profits at a faster rate than the flashier specialist agencies.