Sir Martin Sorrell: 'Start To 2014 Better Than Anticipated'
The year has started off on a solid note for communications giant WPP. In its preliminary financial reports for 2013, the British holding company notched up revenues to the tune of 11.02 billion, up 6.2% from the previous year, 'led by strong growth in Asia Pacific, Latin America, Africa and the Middle East and the UK'. January 2014 continues to buck that trend, with like for like revenues up 5.7% and gross margins rocketing 4.1%.
Storyboard Editor Anant Rangaswami caught up with Sir Martin Sorrell, CEO of WPP, who attributes this to a higher organic, and better margin growth. Said the latter, "Last year we had good revenue growth, and a margin growth of 30 basis points. And finally, we managed our costs very well. In 2012, we probably had over invested in human capital, but we've kept it balanced in 2013. All in all, we're firing on all cylinders. The start to 2014 has been better than anticipated, both globally and in India. With a bit of luck, subject to currency issues, it'll be a better year than the last," says Sir Martin.
Catch Sir Martin speaking about acquisitions, WPP's India plans and how it is still too early to say anything solid about its plans for Rediffusion.
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