The preliminary results of WPP indicate a billing of over Euro 44.4 billion where revenues were up by 3.5 per cent at almost Euro 10.4 billion. For 2013, WPP is targeting organic revenue growth of around 3 per cent, a budget, it called, slightly more conservative than usual but Sir Martin Sorrell, Chief Executive Officer, WPP sounded extremely bullish about this year at the recently concluded Festival of Media Asia 2013, where he was the key note speaker.
Talking about last year’s performance, Sorrell said, “Digital grew faster than average. Advertising, media investment, management, particularly media planning & buying grew faster than average.”
Sorrell, who was also a Chief Financial Officer at Saatchi & Saatchi and quit from there in 1985, said, “I think we all are ‘Mad Men’ but we are also ‘Math Men’. It is a balance and our business is not only an art but also a science with traditional people. This balance in our business is very good.”
Talking about emerging markets, Sorrell specifically mentioned South Africa where he has stakes in two companies. “We have very interesting stakes in two companies – both based in South Africa. One specialises in in-store distribution, which not only operates in South Africa but also in China, India, South Asia, Brazil, while the other company creates in-store environment for manufactures.”
Stressing on the strategy for WPP, Sorrell made it very simple – new markets, new media, digital and searches are the things to concentrate on for the Group.
“It is about pushing open doors or going about where opportunities are. Application of technology is where the opportunity is,” he concluded.